You’ve almost made it to the end of the week! Lets just call it Friday and do the open topic thing!
-Who in the real world can afford to live here ?
-At least you can start paying US prices for books.
-The demise of Britains housing boom?
-Fed done cutting rates?
-US government wants people to keep their homes.
What are you seeing out there? Post your news, links and thoughts here!
test
"I live in Copper Sky, the very best project in Richmond…period.."Maybe the best project but not the best place. You need to be in the old part of the village near the west dyke and Garry Point, where all the real views are :-)Kidding!
"I watch Steveston Village listings all the time and I swear I haven't seen one house sale in about 2 months in that area."It's true…it's deader than a door nail (whats a door nail anyway?)I live in Copper Sky, the very best project in Richmond…period..and there is nothing happening here except lots of dreaming. A 799,000 (pretty sure this was the original asking) townhome a 100 yards away has just been reduced to 699.000 (still 400,000 overvalued)
If Whalley is the next Yaletown than where will the new Whalley be? The working poor have to live somewhere and they can't afford to commute from way out in the Fraser Valley.
Article in the Sun on the Sky Towers development in Surrey… sounds like the buyers have high hopes for the future of Whalley…Surrey's Sky Towers sell out"This is the downtown of Surrey and most of the buyers I talked to believe that prices in Central City are going to close the gap with downtown Vancouver," Good said in an interview."About half of the buyers struck out the assignment privileges of their contracts, which would indicate that they are not short-term investors, that they are planning on completing."We did not have very many people planning to flip [their units] but we do have a lot of people thinking that they are going to get in now while it's affordable and be able to get some really high rents later."
Our friends in Steveston still had no offers on their house. They are taking it off the market and putting it back up in spring. Gee where have I heard that before!?!?I watch Steveston Village listings all the time and I swear I haven't seen one house sale in about 2 months in that area.The townhouses in our complex ( on the dyke, prime location) are not moving too fast at all, when they do, it's after a few price drops.This is only one small area, but from what I see it's dead. However, the stats for Richmond don't really show that so I don't know what the hell is going on.
My neighbor in Steveston just dropped the price of his townhouse from $799 to 699 because it wasn't selling even though its a prime waterfront location. All his neighbors think hes still way overpriced, even people living in the same complex. White Rock coming down hard. Lots of reduced signs and little action.
I work for a BIG bank in our western Canadian approval centre. Mortgage application volumes are at the lowest they have been in the 4 years I have been there. I would say the volumes now are less than half what they were during busier times, in fact we have let some agency workers go as there was just not enough work for them.
Just about a year, or so ago. they too were talking about the rich immigrants (which is a farce, because only third world countries export their people to North America) (RE PUMPERS: PLEASE PROVIDE STATS, ON HOW MANY RICH IMMIGRANTS ARE COMING AND FROM WHERE)and the weather,and how different it would be this time, and the supporting fundamentals and ….Mortgage foreclosures hitting Connecticut cities hardStressed borrowers use plastic to delay default see what Vancover will look like soonnobody listenedForeclosures: Moving on upFilings rise with more on the horizon as interest rates jump on a record number of adjustable mortgages.
I think the "naive" immigrants are most likely just less sophisticated greedbags than the developers. People who want something for nothing (i.e. would-be flippers) often end up with less than nothing.The little shark gets eaten by the big shark. Donald Trump seminars, Amway, etc, etc.
"Another decent CTV story on Pre-Sales. It left the impression of devious developers screwing naive immigrants. They interviewed some of "investors" for the Sky condos in Surrey and it was quite clear that they didn't know what they were getting into."Why would developers resort to such low down tactics when BC has been averaging 40K immigrants annually. That constitutes a significant number of buyers even if 30% eventually leave after collecting their citizenship and passports.pdf filehttp://tinyurl.com/3yzzo9
by the way solipsist is a "site administrator",He can read all poster's IP address even when you have change your name twice thrice he know you.that's ok, let's not take ourselves too seriously here, after all it's just a f**king blog. what's with the constantly crappy grammar (no i don't mean grandmother) but the great vocabulary. pretty hard to take you very seriously. mostly you're just tedious. solipsist is another matter, i always find his comments interesting because that's how he imagines that i will perceive him.maybe i'll become a solipsist too, and just imagine you out of existence.to my considerable credit (written while patting self on back), when i post drivel, i know it's drivel.
Another decent CTV story on Pre-Sales. It left the impression of devious developers screwing naive immigrants. They interviewed some of "investors" for the Sky condos in Surrey and it was quite clear that they didn't know what they were getting into.
Or will it run out of fuel and crash?No, it will be a "soft landing", Gimli Manitoba style.
""…the market will have reached "cruising altitude," according to CMHC analyst Robyn Adamache, who used the analogy of an airplane flight to describe the point that Vancouver is in within the market cycle. ""Coming from a CMHC analyst I'm surprised they used a plane instead of a rocket successfully launched into space never to return.Does this analogy imply that this plane will eventually land? That's what planes do right? Or will it run out of fuel and crash?
thumdsuq said… solipsist replied "and a bit drunk too…"that explains it all.Aha the most important 20 minute of the day is READ a story for your bears friends.Solipsist not tired nor he is a drunk.He is just simply asking robsnumbers that' if satv or thumbs up is a r.e.pumper do we have any clue ,and if he is runing any blogs does rob mind to give any reference or link to his page.That's what is so special about blogs.Blogs are very similar to a court room anybody can judge the trueness of comments.From story,references,links which is similar to find an evidence to win the case.by the way solipsist is a "site administrator",He can read all poster's IP address even when you have change your name twice thrice he know you.
solipsist replied "and a bit drunk too…"that explains it all.
you're a bit tired tonightand a bit drunk too…
rob's numbers suggested "drachen that is correct Satv, is thumbsup, but he is a RE pumper with a blog as well."and then solipsist asked "I'd figured that, but where is it's blog?"solipsist, you're normally a very sharp feller, but you're a bit tired tonight aren't you, and the neuron connections just aren't happening?
Satv, is thumbsup, but he is a RE pumper with a blog as well.I'd figured that, but where is it's blog?
drachen that is correct Satv, is thumbsup, but he is a RE pumper with a blog as well.
Thumbsup IS satv.
Expect a lot of comments from Satv. He is getting quite a shellacking on his blog.
