Yes, if you believe in perpetual motion machines.

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there are different metrics, I have notice which confuse us some time for example your neighbrour’s “chandler” calculate vancouver average in july $831,554 do you have any Idea.
why is that different than stat from rebgv that says”$714.810 for july.

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That phenomenon explains the London RE bonanza, and probably does explain part of what is going on in Vancouver. Lots of condos are either empty most of the time or rented out by offshore owners. Unlike London, I don’t see the super-rich actually living here, with the exception of one or two of Li Ka Shing’s kids.

Once investor confidence runs out we may see the so-called “black money” moving to more favourable markets. Just because they want to keep their money safe doesn’t mean it has to be here. Toronto is cheaper and not so bubbly in comparison to the GVRD.

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August $ 526,879
July*** $ 519,896
change in %1.3%

Median Price
August $485,000
July*** $472,000

August 2007 sales were second highest compare to 2005.Market is very strong than prediction so far.

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The Pope where are you,and where is Will Wertheim,Solipsist as well.hope you guys are in pink of your health.

wish you all the best and back to desk ASAP.

Freako,

we have $11,257 increase over houses in $$$ volume,if your monthly calculation comes to $4000 isn’t that equal to 4 month of payment of profit for the bulls.

July benchmark $714,810
August^^^^^^^^ $726,067

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Hard to calculate positive cash flow Dave? Maybe for you.

Cabal of foreigners from Asia and Europe was gradually immigrating into Vancouver over the last century.

Oh, these “dumb rich foreigners” explanations just won’t go away. Over the last century you say? So why was there are crash in the early 1980′s and a bear market in the 1990′s? Let’s throw in the Great Depression too. Don’t tell me, 2001 marked a “new paradigm”.

Also, I suggest you try to figure out why demand curves slope down. Hint: the deep pockets always pay less they are willing and able to.

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Gimme a break. San Jose and LA are down down down on quality adjusted indexes such as Case-Shiller. As for Seattle it is indeed up even when quality adjusted, but have you seen the inventory lately? More than doubled since January. And Seattle never did catch fire in the first place. Even with recent runup, their prices are almost half ours, despite having some huge employers.

As for Lereah, who says housing has to fall 20% for him to have been wrong. Jeez, maintained 5% appreciation until the roof caved in on him. The market is almost illiquid right now, the U.S. has an amazing 8.9 months of inventory, and rising rapidly. Remember, the stats are lagging and the liquidity crises won’t show up until September data.

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David Lereah is wrong? By what standards are you talking about? Has housing dropped 20% in the US?

I see drops of up to 70% and it has only just begun.

David Lereah admits he was wrong.He says:

“The bears were bears way too early, and the bulls were bulls too late,” he said. “You need to know when you are straying from fundamentals. It’s hard, when you are in the middle of the storm, to know.”you believe him don’t you?

It’s hard to believe one of your fellows, “professionals” as you like to say, was so far off, and he is actually educated, unlike the rest of you charlatans.

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David Lereah is wrong? By what standards are you talking about? Has housing dropped 20% in the US? All bears can bring up is that housing index dropping 50%. Housing index consists of a bunch of housing builders stocks and is no way indicative of the housing prices. http://finance.yahoo.com/real-.....ng-Markets

Seattle up. San Jose up. Even the most speculative LA saw prices up 2%
Yup. Crash????

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I know you hate this theory of mine but I am still urging that we adopt my “Great Very Rich Diaspora (GVRD) theory” as the basis for explaining the last 6 years of real estate boom in Vancouver. At the same time this theory explains why GVRD changed their name into Metro Vancouver – “they” didn’t want to make things too obvious.

Here’s how the GVRD theory works: Cabal of foreigners from Asia and Europe was gradually immigrating into Vancouver over the last century. Evidence? 300K Canadian passport holders in HK. And for every one of them their mothers, fathers, grandfathers, grandmothers, cousins, aunts, uncles, etc eager to move their money out of country and invest it in real estate in North America. Situation with other countries is probably similar I only remember HK numbers because Vancouver Sun ran an article recently. Their number reached critical mass in 2001 which combined with the Olympic Games caused a massive increase in property prices in Vancouver. Given that all of them are Canadian citizens all their purchases are “local” in theory. Now that’s a simple and elegant explanation that deserves a medal!!!

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what we need are some new superlatives, the current ones just don’t cut it anymore….

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We are heading straight for most expensive in North America.

Monthly payments on the median benchmark after 20% down ($145,213) are $3,661.28. Add property taxes and other expenses, and we are well north of $4K a month.

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edmonton/calgary..soon to be vancouver
most specuvestors are gonna get pummeled..tinyurl.com/3ajax4

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STFU!

your schtik is irritating

miss,
here is installment from SPIDERMAN’S net.

Canada’s central bank held interest rates steady Wednesday, abandoning its July rate tightening and adopting more of a wait-and-see approach after a volatile summer in the financial markets.

As expected, the Bank of Canada left its target for the overnight rate — what the major banks charge each other for overnight loans — unchanged at 4.5 per cent.

courtesy-cbc news

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My favourite bit;

““Recent volatility in the stock market may trigger further investment in real estate as purchasers move to reallocate their holdings,” he said.”

I love the idea that volatility in Real Estate has CAUSED market problems so why not put your money where it’s safe, in Real Estate!

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1. simply ignore satv, like most of us do.

2. Thanks for the G&M link: if you look again quickly (before it’s edited out), you’ll spot a wonderful Freudian typo in the penultimate paragraph:

“The high-end hosing market has been booming for several years now, attracting a growing number of affluent purchasers who are taking advantage of the increased equity and the capital gains exemption for a principle residence.”

Hosing, to be sure.

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STFU!

your schtik is irritating

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