Its free-for-all time! Here’s your open topic post for Friday October 12th. A few random stories to kick off the discussion:
-High prices spur condo construction
-Buying at the right time makes money
-Erasing Vancouvers architectural history
-Cultus cottages snapped up by retirees
–US Foreclosures not over yet.
So what are you seeing out there? Post your news, links and anecdotes here!
Ah gee drachen…..you owe me an apology and to think you went through all that trouble to post something from Wikpedia….Wikipedia is an free, online encyclopaedia; anyone can add content or edit existing content. The idea behind Wikipedia is that members of the general public can add their own personal knowledge, anonymously if they wish. Wikipedia then evolves over time into a comprehensive knowledge base on all things. Its popularity has never been questioned, although some have speculated about its authority. By its own admission, Wikipedia contains errors. A number of people have tested Wikipedia’s accuracy using destructive methods, i.e. deliberately inserting errors. This has been criticised by Wikipedia. This short study examines Wikipedia’s credibility by asking 258 research staff with a response rate of 21 percent, to read an article and assess its credibility, the credibility of its author… Read more »
drachenmy reply to point 1 isRUBBISHpoint 2RUBBISHand point 3 YOU GUESSED ITThat building fell in seconds SECONDS !!!! It was stable and there were small fires….LISTEN TO THE OWNER OF THE BUILDING and then ask yourself this question…..How many hours does it take to stratgically plant explosives in a 48 story skyscraper to make it fall within its footprint in the same time as it takes for an apple pit dropped from the roof takes?Lets see what you have between your ears…..a mind that knows how to reason or a brainwashed mass of shit like President Bush.
Sorry I should have credited the large block of text and put it in quotes. It's from wikipedia.org
Man Randallbard, do some actual research, this took me less than a minute to find.1) The firefighters reported that the building seemed unstable and ready to collapse, in the chaos of the day that could easily be misreported as "had collapsed".2) If the firefighters deemed the building to be on the verge of collapse why is anyone surprised that it did collapse?3) Given that in light of points 1 and 2 you still cling to your whacked out theories I posit that you are a wingnut conspiracy theorist.After the north tower collapsed, some firefighters entered 7 World Trade Center to search the building. They attempted to extinguish small pockets of fire, but low water pressure hindered their efforts.[22] A massive fire burned into the afternoon on the 11th and 12th floors of 7 World Trade Center, the flames visible on… Read more »
drachen…..judge for yourself. The conspiracy theory is that terrorists from the middle east brought the towers down.If so then why did Silverstein admit to "pulling" building 7? Even if you don't accept that then tell us oh wise one why the BBC reported the collapse of tower 7 ——20 MINUTES BEFORE IT HAPPENED?Watch it very carefully and if you still think I'm wrong then you are an idiot, nothing less
Speaking of Craigslist, I'm blown away by the rents for downtown Vancouver condos. For $3500-$4000/month, you'd be better off staying in a four star hotel with maid service etc. Who is paying these rents? We don't have the incomes to justify it.Looking at it another way, you could rent a top quality five bedroom house in a very nice part of Vancouver for what it costs to stay in downtown condo these days.What is going on?
whoops, here's the Bellingham listing: http://vancouver.craigslist.org/rfs/450086653.htm…
This is what's killing White Rock:http://vancouver.craigslist.org/rfs/450097085.htmlNice, big estate in Blaine for a half million. It would be seven figures on this side of the border.How about this new three bedroom home in Bellingham for $279,900. We'd have to go back to 2003 prices to match that.And Washington State prices are going down while the Canadian dollars goes up.Bears rejoice, we will soon be vindicated.
holgs,Yep, saw that Chilliwack report too. So I went and dug up the average price numbers and the Chilliwack RE site. Didn't check my math too closely, but this looks right for average sale prices (SFH only – that's really the only number I follow):April 334517May 341547June 339319Jul 337211Aug 351765Sep 336936Sept 2006 was 306881 so that's still about 10% YOY. It appears the realtor's reaction is to the drop from August, since Sept isn't out of line with the rest of the data. Active listings are up about 50% compared with 2006, which is pretty similar to the rest of the Fraser Valley. At this point I'd say August is an anomaly, and the trend has been pretty flat over the summer. There is no median data in the CAD report, just total sales numbers. Sales volume has been drifting… Read more »
No, there is no limit at all. But you can own only one PR at a time, and a change of use from investment to PR (or vice versa) is treated as a sale or purchase.Re McCain: yes he is a man of real valour, although that was not good enough for Republican primary voters in 2000. But I was really talking about the small cabal that instigated the Iraq war, not anyone who supported it at some time (which includes Hillary Clinton among others).As far as I know, only one presidential candidate from either party voted (in the House or Senate) against the war at the outset. Guess who?
The reprot from Sauder referenced in the Georgia Strait article is dated January 2007 so is old news. Nevertheless the analysis seems logical with a few points outstanding. In the report they claim that owning produces similar returns to investing in equities only with the primary residence capital gains tax exemption. But, the report did not go into much detail about maintenance costs. Also I don't think they took into account depreciation, instead only looking at average house prices over time. They should have used a benchmark price instead.Note their report implies that if you are investing in property for rental, the returns on real estate are worse than equities since you must pay cap gains tax in the end.Is it true that the capital gains tax exemption on primary residence is one-time only?
Gloating over the expectation of other people suffering loss is the walking, talking definition of "greed and stupidity".I prefer literal definitions, but knock yourself out.
Like Dubya, Cheney, etc, etc. And of course the tradition continues – none of their kids are in Iraq either.Getting awfully political around here. Anyhow, you should make it clear that your etc etc does not include John McCain whose son is currently serving in Iraq.McCain himself has had quite the eventful military career himself. He sat waiting in a bomb ladened A4 Skyhawk when a missile on another plane discharged and hit it. This lead to a chain reaction resulted in the infamous devastation of U.S.S. Forrestal. It killed 132 sailors, but McCain escaped with shrapnel wounds to chest and legs.Later he was shot down over Hanoi. He ejected and landed in a lake with two broken arms and a leg after whicha mob kicked the sh*t out of him. He then spent almost six years in the Hanoi… Read more »
"Just as Bush and friends destroyed building 7 on 9/11 with explosives planted over the preceding months and then blamed terrorists, Hitler and Goebbles destroyed the Reichstag and blamed the Russians."OOOOHhhkay, Randallbard is another whacked out conspiracy theorist… That explains a lot. Not to self /ignore Randallbard.Patriotz, if you read Damir's comments in context you'll find that you're in agreement. I believe he's using "liberation" in an ironic sense. As in they're being "liberated" from the burden of having whole families and a liveable country.
Bud, it is people from exactly that generation leading the liberation of Iraq.Forget the quotation marks fella? Just how is going from one secular dictator (who protected Iraq's Christians BTW) to a hell's basket of religious fanatics and gangsters which has produced more refugees than Saddam ever did "liberation"?Also, almost all of the Iraq war hawks were supporters of the Vietnam war, but magically found something better to do than fight it themselves. Like Dubya, Cheney, etc, etc. And of course the tradition continues – none of their kids are in Iraq either.Sacrifice is for suckers.
"Bud, it is people from exactly that generation leading the liberation of Iraq."The majority of every generation of Americans has been morally bankrupt which is why the USA has been and is more and more the most hated country on earth. There isn't any place which can outdo the USA, they take the cake.BUT I should point out that the vast majority of Americans now hate Bush and his war so that's the reality. Your current generation in Canada stands for absolutely nothing at all except money and apathy. You are too young to understand any of this anyway, I can tell. My generation destroyed LBJ's war effort from within the US. Is this happening today? Not too much in comparison as everyones afraid of the new fascist homeland stupidity dept.Anyway history repeats. Just as Bush and friends destroyed building… Read more »
pathetically tragic see the latest theory. Apparently it's the newspapers who are causing havoc on the real estate industry, according to a pumper, not fundamentals.
If I could give them advice, I'd say go to Toronto, Seattle, Singapore, heck even Dublin.The bubble is world-wide. Dublin especially is an expensive and depressing place for life.US home prices are down 25% this year so far – assuming that one uses savings in canadian dollars to buy a place there. If the loonie stays strong or keeps going up against the USD (like many are predicting, including Warren Buffet), then the discounts on US property may reach 50% to 60% for canadians with savings.
I think the Schadenfreude has been going in both directions.Those who bought, and those who cashed in on this explosion (not boom)have basked in "wow, I must be smart", bought status cars to express their peacock feathers, and some have been pretty smug and cocky. As if Vancouver needs more attitude. It was a form of bullying going on, by realtors, some smug buyer, news papers.Now, when things are showing signs of seesawing it seems some are bracing themselves. Not that I am promoting bullying, but I can see why some would like to let some steam out after a drawn out climb.Those who were bears during the upclimb were right all along, but were bullied by the bulls. Many felt no freedom of speach, in fear of being ostracized.No, I dont wish bad luck on those who are stuck,… Read more »
I'm in the bearish camp myself – sold out and waiting on the sidelines – but if there's a way out of the current status without causing a lot of damage to a lot of people I'd be happy to see it. Even if it means I might have to accept less of a discount than I do expect.thanks Damir, a laugh was badly needed.
Collating comments…[beta] Greed and stupidity aren't pretty either, but if you're so sensitive then maybe you shouldn't look.Gloating over the expectation of other people suffering loss is the walking, talking definition of "greed and stupidity". It does nothing to increase your own profits, and probably hurts them for the same reason idealogical blinkers hurt advancement in any business.I'm in the bearish camp myself – sold out and waiting on the sidelines – but if there's a way out of the current status without causing a lot of damage to a lot of people I'd be happy to see it. Even if it means I might have to accept less of a discount than I do expect.[Michael]…the love generation etc who weren't afraid to stand up to corrption and materialism and go out on the front linesBud, it is people from… Read more »
If there is one thing this blog does well, it is to illustrate the sheer ugliness of schadenfreudeGreed and stupidity aren't pretty either, but if you're so sensitive then maybe you shouldn't look.
Hey guys been following this blog for a long time- I have a blog that looks at the Van RE scene too. Feel free to drop by.http://fishre.blogspot.com/
"Australia, the size of the whole USA, liits their poplation to approx 20 million and this hasn't changed much in 20 years."Actually…. 20,743,300 (26 January 2007 – ABS) 20,605,500 (26 January 2006 – ABS) 20,171,300 (26 January 2005 – ABS) 20,100,000 (26 January 2004 – ABS) 19,438,000 (26 January 2003 – ABS) 19,662,800 (26 January 2002 – ABS) 19,436,000 (26 January 2001 – ABS) 19,157,000 (26 January 2000 – ABS) 18,937,200 (26 January 1999 – ABS) 18,730,400 (26 January 1998 – ABS) 18,524,200 (26 January 1997 – ABS) 18,310,700 (26 January 1996 – ABS) 18,071,800 (26 January 1995 – ABS) 17,951,300 (26 January 1994 – ABS) 17,565,500 (26 January 1993 – ABS) 17,099,900 (26 January 1992 – ABS) 16,974,600 (26 January 1991 – ABS) 16,850,200 (26 January 1990 – ABS) 16,107,890 (26 January 1989 – ABS)you need help. you really… Read more »
Another series of "far out man" moments in my neck of the wooods.In my complex, there was a two bedroom apartment two floors below me that went on the market two weeks ago, and sold after three days with multiple offers. The asking price was $429 k and and the selling price was $469k. Apparently it was bought by an older realtor as the first home for his daughter and son in law, so there may be some karma there.There was also a two bedroom townhouse in our complex that went out to market at the same time. The asking price was $500k, and it too sold at the end of the week, though I have no idea what the selling price was.Finally, a one bedroom apartment on the ground floor (around 700 square feet) sold after about two weeks… Read more »