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The other Vancouver

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Here’s whats happening right now in the “other” Vancouver:

According to the latest report from “benchmarks,” a service of Riley & Marks appraisers in Vancouver, sales of new and pre-owned homes were off 19.3 percent last month with just 719 homes sold, the lowest number for July in five years. But only in the past two months has the median monthly sales price been lower than a year ago, down 2.9 percent in July from 2006.

So is this a buyers market? “In some higher-end categories of $350,000 and up, maybe.”

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freako

Well, there ain't a drop for over a decade ;only you bears are blowing the horn but every time the trend flies to the north. Hop in RC wagon now,otherwise you will be left in the cold and we will be laughing why there ain't a drop yet in 2020. Spent a few years too many on the stock chat boards have we?

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fgah

Well, there ain't a drop for over a decade ;only you bears are blowing the horn but every time the trend flies to the north. Hop in RC wagon now,otherwise you will be left in the cold and we will be laughing why there ain't a drop yet in 2020.

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freako

Since when Van RE has a drop since 98? Ok, so you haven't taken a shit since last Thursday. Does that make you more or less likely to take one in the near future?

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fgah

We ain't stupid but we are the winners.Since when Van RE has a drop since 98? You guys are jealous because you miss the boat. It's not too late to hop in the boat.Price will never go down though it may be slowing down moderately.

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beta

When you guys will face the reality that Van is a unique city.When it actually becomes reality. I've noticed lately that, though RE bulls are not stupid in general, stupid people are generally RE bulls.

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fgah

Here is Canada Van not,US so don't worry.Can't compare a gold nugget with a pile of shit sitting down South.Houses in Vancouver will keep going up to $million mark average after 2010 Olympic.When you guys will face the reality that Van is a unique city.

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tulip-Mania2

And a little further south:“‘The loans are worth more than the house,’ said Jim Lamb, a Realtor who lives in Mountain House.”“These are the same homes that in 2004, 2005 and as late as June 2006 were sold by lottery to crowds of 300 pre-qualified buyers, many of whom camped overnight just for the chance to own a home.”“A sure sign of decline at Mountain House is a dying lawn. A closer look reveals trash, ad fliers shoved under the door, and the clincher: a foreclosure notice or, worse, auction announcement, taped to the window.”

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