Comments on: We’re richer ’cause we owe more.

By: DEFAULT NAME

DEFAULT NAME — Thu, 14 Dec 2006 07:08:00 +0000

VHB,

Since you are hanging around and we can't post on your site, I have a question.

I don't know how they calculate savings rates, but if they use consumption somehow, shouldn't all the drug money be a wash?

Not counted as income, but not counted as consumed either? Or maybe any money that isn't in a bank is considered consumed, but then people might keep it under their bed??

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By: DEFAULT NAME

DEFAULT NAME — Sun, 10 Dec 2006 21:52:00 +0000

Hey VHB! Either you are on vacation or you not.

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By: betamax

betamax — Sun, 10 Dec 2006 21:40:00 +0000

I like how the argument changes from 'prices never go down' and 'its different this time' to 'prices aren't dropping that fast.

Exactly. And all these geniuses who claimed that you can't identify a bubble until after it's popped are now miraculously able to discern the bottom before prices rise again.

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By: Van Housing Blogger

Van Housing Blogger — Sun, 10 Dec 2006 21:19:00 +0000

Here is my post on the personal savings rate, in case anyone wants to see the data.

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By: Van Housing Blogger

Van Housing Blogger — Sun, 10 Dec 2006 21:18:00 +0000

"Together we'll all make it through a month without VHB."

I prescribe a lot of hand-holding and group hugs.

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By: DEFAULT NAME

DEFAULT NAME — Sun, 10 Dec 2006 19:45:00 +0000

The moral of the bellhop story is...

Never trust Bob Rennie.

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By: digi

digi — Sun, 10 Dec 2006 18:06:00 +0000

Obviously anonymous and Warren are correct: They paid 25, so the 2 dollars the bellboy took should be subtracted from 27 (3x9) not added to it. Its suprising how a simple misleading statement can obfuscate the truth.

From freako's link:
Clearly, the current real estate market is not experiencing the kind of precipitous drop in values typically seen when investment bubbles burst.

Why would a housing market pop all of a sudden? Houses are a lot less liquid than stock which means a long slow grind down seems more likely.

I like how the argument changes from 'prices never go down' and 'its different this time' to 'prices aren't dropping that fast.

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By: Freako

Freako — Sun, 10 Dec 2006 15:42:00 +0000

If you want some comedy, check out this nutball from the "prestigous" BMI institute.

http://tinyurl.com/y9ca7h

He rails against biased media. As in biased against real estate. There are so many manipulations and inconstencies that you will feel like a kid in a candy store.

Here is a teaser:

Williams punctuated his bearishness: â€œBut here is the number that really got people's attention today. The median home price fell on a yearly basis by 1.7 percent.â€

"Horrors. 1.7 percent down in 12 months. To put this in perspective, when the stock market bubble burst in 2000, there were days when equity prices dropped a heck of a lot more than 1.7 percent. In fact, when the bear market began in March 2000, the NASDAQ plummeted by more than 30 percent â€“ in just one week."

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By: DEFAULT NAME

DEFAULT NAME — Sun, 10 Dec 2006 04:38:00 +0000

They checked into a hotel/massage parlour and were rousted by the police and lost the $1 sometime in all that action??

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By: solipsist

solipsist — Sat, 09 Dec 2006 22:55:00 +0000

"..B.C.'s provincial savings rate hit an all-time low of -7.9 per cent in 2004 "and likely retreated further since then."

Thanks pope. So much for my "ecyclopaedic" mind. I think it is a recycled mind, and is losing it's integrity with every cycle.

I must discontinue eating aluminum foil, and get some treatment for my pica.

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By: Lucky Lux

Lucky Lux — Sat, 09 Dec 2006 21:13:00 +0000

$30 - $2 = $28.

The hotel guests paid $9.33 each. Well, one may have paid $9.34.

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By: Warren

Warren — Sat, 09 Dec 2006 21:11:00 +0000

The bellboy's $2 should be subtracted not added, to make $25 paid to the manager.

If I had $2 for everybody who got this wrong.. I could afford some real estate!

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By: DEFAULT NAME

DEFAULT NAME — Sat, 09 Dec 2006 20:50:00 +0000

They didn't pay 30 dollars, they paid 25.

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By: time2sell

time2sell — Sat, 09 Dec 2006 20:50:00 +0000

$30 - $29 = $1
What happened to the extra dollar?

..clearly the bellboy took another dollar that he neglected to mention.

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By: digi

digi — Sat, 09 Dec 2006 20:23:00 +0000

Reminds me of this little brain teaser:

3 people check into a hotel and are charged $30 for their room. Once they've paid and gone up to the room the manager realizes he overcharged them and the room is actually $25 for the night so he sends the bellboy back up to the room with the $5 to return to them.

On the way up the bellboy figures he can't divide the 5 dollars evenly between 3 people so he takes $2 for himself and gives the customers a dollar each which means they each paid 9 dollars.

$9 times 3 people = $27
$27 + the bellboys $2 = $29

What happened to the extra dollar?

If you can't figure it out you probably shouldn't take out any large loans.

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By: the pope

the pope — Sat, 09 Dec 2006 20:06:00 +0000

Solipsist: I just found this article on realtytimes that has this choice quote:

"..B.C.'s provincial savings rate hit an all-time low of -7.9 per cent in 2004 "and likely retreated further since then."

If that true then its WORSE than -6 percent, it may be close to -8%. And thats the average for the entire province, it wouldn't suprise me if things were even worse in Vancouver.

How can that be sustainable?

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By: the pope

the pope — Sat, 09 Dec 2006 19:59:00 +0000

Hey anonymous, you're welcome to post here with comments intelligent or not. Together we'll all make it through a month without VHB.

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By: DEFAULT NAME

DEFAULT NAME — Sat, 09 Dec 2006 15:16:00 +0000

Just visitng and thank in advance for letting me read some posts. If I think of something intelligent to say I will. I too am addicted to VHB (and sadly all things real estate).

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By: solipsist

solipsist — Sat, 09 Dec 2006 02:14:00 +0000

an encyclopaedic mind for a lot besides spelling, that is.

just call me ecyclopaedia bown. I mean brown

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By: solipsist

solipsist — Sat, 09 Dec 2006 02:13:00 +0000

I read some time ago (sorry, no link. I have an ecyclopaedic mind for a lot, but sources are details that annoy me.), that Vancouver has the lowest savings rate at - 6%.

I think it is safe to infer that we are the most debt-ridden.

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By: digi

digi — Fri, 08 Dec 2006 17:51:00 +0000

EVERYONE in the world will want to live here.

Everyone except me if we have to house the population of the world here. Imagine the lines at the soup kitchens!

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By: DEFAULT NAME

DEFAULT NAME — Fri, 08 Dec 2006 17:45:00 +0000

People in Vancouver are different. We all have six figure jobs and drive nice cars.
We don't worry about debt!
The good times that are happening in Vancouver will never end!

Mark my words, soon as the Olympics are over - everyone, (I repeat) EVERYONE in the world will want to live here...we have the mountains, the ocean... (drones off)...

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By: ken

ken — Fri, 08 Dec 2006 06:58:00 +0000

I guess that makes me poor.. I'm not interested in sinking up to my eyeballs in debt.

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