Comments on: 2 more Vancouver condo project run into financing problems

By: Dave

Dave — Tue, 01 Apr 2008 03:30:22 +0000

You gotta laugh when Ozzy Jockstrap gets worried about bloggs. Next he will say the market tanked because of the Doom and Gloom forcasts. Now I know why there was the big fuss a few years ago about about internet blog sites from the media moguls. They were afraid they couldn't stop people from countering their spin they always put on the news. I remember the 1980's very well and there was hardly a mention of the impending housing crash in Alberta until it was way to late. Maybe this time a few potential buyers will wake up and take notice.

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By: Mark

Mark — Mon, 31 Mar 2008 16:51:08 +0000

Here's a Vancouver ground zero perspective. It's Summer 2007 and I'm listening in on a few couples talking about the condos they have "invested" in that year. Everyone bragging lightly about the profits that will be made after completion. It's now Spring 2008, I'm walking the same Yaletown seawall only to hear a very different story. People talking about failed projects, lost deposits, quick flips, panic sales and problems with renters. It was too good to be true and I might add greedy as hell. Let get real people, it looks easy on TV but in reality this game is as dangerous as the stock market. It's also a hindrance to people who really want or need to buy but can't at these artificial prices. In the past year I've have 6 sets of friends leave for Toronto which apparently has a more reasonable market. How did this happen?

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By: wisdomous.com

wisdomous.com — Fri, 14 Mar 2008 13:30:57 +0000

Of course they are went into receivership. check the documents filed in court, we put a copy of the report on our blog: wisdomous.com the development will be finished as there is enough equity to do so. the report uncovers some interesting information about the property though. wisdomous.com

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By: real estate Vancouve

real estate Vancouve — Thu, 13 Mar 2008 02:59:41 +0000

Are you sure that H&H went into receivership? Isn`t it just a new stupid kind of promotion? (of course very bad one) It is not easy to be popular when the competition at Vancouer real estate is so high...

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By: -A-

-A- — Thu, 28 Feb 2008 20:46:05 +0000

It's brainwashing, you can always tell who has been "Ozziesied" they have glossy eyes. It's like that old movie, where Charlton Heston comes down from the mountain with the binders and that "look".

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By: Strataman

Strataman — Thu, 28 Feb 2008 20:42:01 +0000

http://tinyurl.com/yoblzs

The real krisssh in action! The Guru extraordinaire!

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By: patriotz

patriotz — Thu, 28 Feb 2008 20:20:50 +0000

He has a point that one cannot be a bear forever or we’re all doomed but his conclusions seem suspect Ideologues and religious fundamentalists always project their irrationality onto those who oppose them. They do not believe in rationality, so they believe that anyone who opposes them must hold an opposing ideology. So if you believe that "RE is always a good investment", you also believe that any one who disagrees with you thinks that "RE is always a bad investment". You just cannot comprehend the idea that "whether RE is a good or bad investment depends on how much you pay for it, the income it yields, and the carrying costs". I don't think the gurus really believe this crap. If they did they wouldn't be spending their time giving seminars and letting people in on their little secret. It's their "students" who do.

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By: -A-

-A- — Thu, 28 Feb 2008 20:15:10 +0000

I would bet krrish1 popped a chubby and ended up chocking his chicken reading ozzie.

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By: krrish1

krrish1 — Thu, 28 Feb 2008 18:17:47 +0000

No Bdk, That was a lesson to mess with gurus!

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By: Lager not Logger

Lager not Logger — Thu, 28 Feb 2008 18:12:24 +0000

Did you notice that the receiver will be paying 24% annual interest to the firm providing the financing to finish the project. Jeeeez! I guess its hard to get a credit card with a great introductory rate and a $3.7m limit these days.

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