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February 16th, 2008 at 10:27 am
Zima
“If vancouver wants to be a world class city it needs a nickname”
Well there’s always Coupland’s “City of Glass”.
Also we’re sometimes called “Hollywood North”.
Most cities have nicknames… The problem is not in HAVING a name but having an internationally known nickname (not that Paris or London or Moscow or Hong Kong or LA or San Fran or Beijing need nicknames apparently).
February 16th, 2008 at 10:06 am
And real “World Class Cities” ie. New York, London, Paris, Chicago, do not need to market themselves as World Class. They just are.
February 16th, 2008 at 2:53 am
The Saskatchewan housing boom coincided with a period of very strong economic growth, where there was even positive net migration-pretty unusual for that province. That being said, while there was a spike in demand for housing, prices rapidly seemed to climb into the bubble zone. Rents are still modest in urban Regina and Saskatoon.
February 16th, 2008 at 12:16 am
“are people really going to want to buy high-end market housing that is next to an institution treating drug and alcohol addicts and the mentally ill?”
I know a lot of people in West Van and have been in many homes there as my partner is a decorative finisher. I can tell you that the only thing that is different is where they buy thier drugs from and that they can afford to pay for psychiatric help that is not extended to the poor. Also Beverly Hills, where I’m from, has more people seeing shrinks per capita than anywhere in America. So people can pick the kind of drug addict they want as neighbors, it’s a free country.
February 15th, 2008 at 11:42 pm
But but but… I thought Canada was different!
The great boom is winding down
“Saskatchewan was also strong, with sales in Regina rising by 43.7 per cent while the average price rose 69.1 per cent, and in Saskatoon by 37 per cent with the average price up 36.5 per cent.”
Saskatoon
Saskton
Sockton
Stockton!
February 15th, 2008 at 9:49 pm
Having moved here from the prairies, I have thought Vancouver was a step up, but was always a bit leary of “The best place on Earth” hype, that did not really seem to mean anything. From my perspective, Vancouver is definitely not a backwater, but it is not a world capital either. Certainly a lot of people did buy into the hype, and more seriously, bought into RE though.
February 15th, 2008 at 9:37 pm
Warren,Dosh,
I am agree with you about Vancouver while critics failed to explain why some other bedbugs and polluted cities are better.
Zima,(about nick name)
Full Name:Captain George Vancouver
Occupation:Royal Navy
Nick name: Not Known
There are too many George and too many Captains in the world so Vancouver is least possible name there is one in seattle but no where else in the world so just keep it.
February 15th, 2008 at 9:07 pm
When you have costs of ownership more than twice rental costs, that’s a clanger you’d have to be stone deaf not to hear.
And yes some people did hear it stateside in 2005 and some people are hearing it here now.
February 15th, 2008 at 9:05 pm
If vancouver wants to be a world class city it needs a nickname, you know, like the ‘city of lights’ or the ‘big apple’. What do we have so far? ‘no fun city’, ‘the big soggy’.. How about ‘bubbletown’.
Does vancouver have a nickname?
February 15th, 2008 at 8:56 pm
Greater Vancouver 50% more expensive than Greater New York, you say?
Take that, Big Apple! New York is big but we are bubblier!
February 15th, 2008 at 7:30 pm
You see, the classic standards of market froth etc. do not apply in Vancouver. Of course even most missed it in Californis etc. as well.
Nobody comes out and rings a bell.
February 15th, 2008 at 7:12 pm
I put up some inventory info on my blog. I saw you all chatting about it. We are up 35% in North Vancouver.
More here- http://paul-northvancouverhomes.blogspot.com/
February 15th, 2008 at 7:03 pm
Does anyone know about this Steve Moyer person who wrote the article Blueskies linked to (http://tinyurl.com/225ok6) which urges people to sell their homes? What’s his reputation? Level-headed? A bit of a nut? or what? The article was an entertaining read, I’m just having trouble evaluating the source. Did a bit of googling of his name, but it didn’t help much.
February 15th, 2008 at 6:51 pm
Sorry – that last comment was from me.
February 15th, 2008 at 6:51 pm
“And having known the city in the 60’s and 70’s, I wouldn’t call it nice any more. It’s really gotten nasty.”
I would second that it is not even comparable now, was a much friendlier community minded place and generally cleaner. Traffic was acceptable, and family businesses were the norm. Restaurants were much better. (That will get a reaction I am sure!). Its growth typical of all cities (it’s not differant) has spoiled the former character of the city. It’s just a city now!
February 15th, 2008 at 6:50 pm
Mohican is right. We are higher in most areas than last year.
Except for Whistler.
http://fishre.blogspot.com/200.....-2007.html
February 15th, 2008 at 6:35 pm
No, its an ugly city with incredible natural surroundings. Yes the West Side and North Shore look good but other cities have areas that look better (no monster houses) and are a lot cheaper.
And having known the city in the 60′s and 70′s, I wouldn’t call it nice any more. It’s really gotten nasty.
February 15th, 2008 at 6:11 pm
Based on previous years listing activity we should see a huge listings spike from now (mid-february) until mid-april and perhaps longer.
We have the highest starting point for inventory of the past few years so it will be really interesting to see how far and fast things go. I really think the price declines will come slow at first and then pick up speed through the end of the year.
February 15th, 2008 at 5:53 pm
Over the last few days on his site they haven’t been increasing by a huge margin.
Picked up yesterday.
February 15th, 2008 at 4:53 pm
Pauls usually updated by 9:30 PM. Judging by past inventory increases the listings start middle of February and go steady for 8 weeks before a dip then resume in June. The next eight weeks should tell us which way this year is headed.Take a look at Pauls inventory graphs for the last two years it will give you an idea.
February 15th, 2008 at 4:38 pm
When does Paul usually do his update? Or when is it automated to do so? Over the last few days on his site they haven’t been increasing by a huge margin. March will be interesting to see. When does the Spring listing rush usually begin? March or April?
February 15th, 2008 at 4:35 pm
Heavy listing day for condos I think from an agent friend of mine! Have to check Pauls site tonight.
February 15th, 2008 at 4:15 pm
DOSH
I don’t know many people from London, Honk Kong, Tokyo, Berlin, New York that claim it’s the best place in the world. Coming from some poorer places in Africa, India, Eastern Europe and less privilaged areas, than yah it’s the best place on Earth.
February 15th, 2008 at 4:11 pm
Aleks
Relax PC police ( how did I know this would happen)
I was simply refering to people “raised” here with people who have moved here! I forgot “from here” is a dirty word now.
Most of the people I refered to as “not from here” I meant from the rest of Canada. Probably why they think it’s the greatest place on earth. Compared to -50 in the prairies I guess it does look pretty good. Just not on a world stage.
I love this city, but I have also travelled more than enough to know that it’s just a city.
It’s neither here nor there. Everyone in this town is off their rocker for RE.
February 15th, 2008 at 4:05 pm
The reason I said that the “people not from here” were the worst is probably cause I get the condescending ” Well I have lived in many places before coming here, and believe me this is the nicest city in the world” bullshit.
You might think its bullshit, but it sounds like the people that matter to the market don’t. If people are moving here because its the nicest city in the world doesn’t that disprove the logic that most of you use to argue that a crash is coming?
February 15th, 2008 at 4:01 pm
Hang in there, the same attitudes have prevailed in Vancouver with the earlier RE booms. Remember what it was like trying to talk sense into your friends that were pouring every cent they had (and then some) into .com stocks? In a few years everyone in this town will back to normal and the newly arrived will end up back East or North from whence they came.
February 15th, 2008 at 3:36 pm
I didn’t think anyone was “from here” no matter what their views on real estate.
February 15th, 2008 at 3:36 pm
If you never left Vancouver and were told that Vancouver is world class it makes sense.
However I’ve traveled to Sydney and Perth in Australia ,and spent a few months total there over a few years, I found no one knew much about Vancouver other than it was cold (“I’d never go there, it’s just not tropical”.
I did have one friend come to visit from Sydney for two weeks in the summer of 2005 and he ended up leaving early because he was bored.
In Hong Kong I met people who knew Vancouver and Richmond, obviously.
In Penang, Malaysia nobody knew where Vancouver was, just that it was cold in Canada.
I’m getting off track here, in Seattle and Portland people don’t know much about Vancouver, ditto for San Diego and the Baja of Mexico.
All anyone seems to know about Vancouver is the weather sucks and no one I’ve met planned to move here.
World Class my ass, this is a no fun city with a few tourists attractions, no corporate head offices, no financial hubs, no world famous architecture, and a bunch of drug runners driving fancy cars.
When was the last time you heard someone compare Vancouvers theatre with New Yorks? New York’s Broadway is a bit bigger and world class than Vancouvers Broadway.
What is it about Vancouver that compares with New York?
One is a big city in the world trade headquarters of the world and one is a small cold Canadian town that no one has heard of let alone considers world class outside of Vancouver.
I bet people in Rochester think they live in the best place on earth too.
February 15th, 2008 at 3:18 pm
The reason I said that the “people not from here” were the worst is probably cause I get the condescending ” Well I have lived in many places before coming here, and believe me this is the nicest city in the world” bullshit. Honeslty I think everyone has drank the coolaid. “Locals” and the “Furiners” (red neck accent).
February 15th, 2008 at 3:13 pm
lager is right, but i think it depends on who you run with here. to be general of course, seems like people who bought before the runup (35-45) and are ‘investing in condos’ are more on the pretentious side and beleive the hype. people in my age group 25-35 who are just getting married and looking to settle are wondering more and more if its worth staying and questioning how great vancouver really is. i know more than a few who’ve gone to T.O.
my 2cents
February 15th, 2008 at 3:12 pm
Hmm interesting. The people that I know from here generally know that Vancouver is famous for being a boom bust town. Alas, a lot forget that I think when they see free money under the rainbow. Or chose to forget it.
February 15th, 2008 at 3:02 pm
it has become an overhyped, pretentious wanna be city filled with posers and pumpers. Most of which aren’t even from here.
I disagree – I think there is a blind faith that real estate always rises, but In my experience the people that believe that ARE from here, or at least have lived here for more than 10 years. I know several people that are from here who’ve heloc’ed their first property to buy a second ‘investment’ property. They don’t really see whats happening in US bubble markets as analogous at all. They do believe in the miracle of the wintergames and don’t understand the concept of future gains expectations being already priced into the market.
February 15th, 2008 at 2:48 pm
I had a friend of mine get all pissed off at me cause I was dissing Vancouver. He ( they own two condos downtown, one of which was bought last summer with a HELOC from the first!) said “what is your problem? You bought a place 3 years ago and made lot’s of money on your place, why are you so negative?”.
Well I first had to correct him that I haven’t made shit all cause it’s all a paper game. You’ve not made piss all unless you SELL AND move away to buy another place. or invest it all. But the most important factor why I was dissing it is because it has become an overhyped, pretentious wanna be city filled with posers and pumpers. Most of which aren’t even from here.
I also said that I expect the price on my place will be less than what I paid for it once the dust settles. He laughed and said RE never goes down. I told him he should be offloading at leat one but I got he “sell before the Olympics? You’re a moron”
Vancouver’s charm WAS it’s backwater style and relaxed west coast feel. Those were Vancouver’s best assets outside of natural beauty, now that’s gone and only the beauty remains. All the nice little cool spots are overrun with idiots and developments.
Might be time to move… The RE will crash but i think the idiots may remain.
Ok rant over
February 15th, 2008 at 2:36 pm
Residential listings surge while existing home sales lower and report on business thinks the boom is winding down but not to worry, they are talking about Canada and not The Republic of Real Estate/Vancouver
February 15th, 2008 at 12:57 pm
Actually yeah it came up. We all like being in Vancouver, but none of us thought it was on the same level as NYC or London or Paris.
In a way that’s kind of what makes it desirable. But to claim Van is a cultural capital, as Dosh did a few days ago, is laughable. There are no great museums or galleries here. There are no famous buildings (that I know of). No great artistic movements or trends started here.
It is what it is, a beautiful, modern city with incredible natural surroundings and a fairly moderate, if wet, climate.
Make no mistake though, there are many cities like that, and as the cost of living rises to stupid levels here, it makes other cities, for example Seattle, more attractive in comparison.
I love living here, personally. But I’ve lived in many cities and this one isn’attractive enough to justify the retarded priced people expect to pay for a home. It’s EVERYONE here… the RE agents expect you to kiss THEIR ass, not vice versa.
It’s a really nice city, but it’s NOT “the best place on earth” and the sooner people figure that out, the better.
February 15th, 2008 at 12:21 pm
scullboy,
I have mixed opinions, but did you ask those people why they were here? There’s a lot of “best place on earth” yapping going on, but there’s also a lot of “grass is greener” yapping. The bottom line is that you can pick apart anything. Vancouver’s biggest boosters and critics are its own people.
February 15th, 2008 at 12:16 pm
It’s hard to know exactly what made people want to buy at Woodward’s but my suspicion would be they figured it was the start of a major steamrolling of the DTES. I seriously doubt they paid Manhattan prices expecing to live in Calcutta conditions.
OT, I was in line at Future Shop to buy a WII this morning (WIIIIIIII!!!!!!!) Behind me was a grandmother from Wales, and behind her was a guy who had moved her from Belgrade. As I mentioned my bf is from NYC. We were talking about Vancouver, and the Welsh woman said “Vancouver is lovely but it isn’t what it pretends to be”.
We all had a good laugh over that, comparing Vancouver to Manhattan, London and Toronto. We agreed that Toronto really isn’t a world class city though admittedly it’s large and growing. We agreed tha culturally Montreal has a lot going for it, but Van…. well as she said it’s lovely but it’s not what it pretends to be.
I think that’s the problem. Locals really and truly believe everyone on Earth wants to move here. It’s a little mystifying.
Oh, well…. I’m gonna go home tonight, pop in that Godzilla game and stomp the crap outta Tokyo
February 15th, 2008 at 12:02 pm
I don’t know about anyone else but yeah, I’ve give it a try…. if it meant paying about 10 cents on the dollar for the property.
February 15th, 2008 at 11:45 am
Isn’t Woodward’s sold out?
are people really going to want to buy high-end market housing that is next to an institution treating drug and alcohol addicts and the mentally ill?
February 15th, 2008 at 11:44 am
STFU
February 15th, 2008 at 11:22 am
No, they don’t.
February 15th, 2008 at 10:07 am
I’ve got mixed feelings about the Riverview project. If that comes to pass it will be a huge deal here. We definitely need to take care of the mental health issue in BC, and I can see how integrating mental health care and normal market housing could be beneficial for those under light care, but are people really going to want to buy high-end market housing that is next to an institution treating drug and alcohol addicts and the mentally ill? Selling that would require the reversal of ‘Not in my backyard’ attitudes, and would be an achievement for hyped salesmanship of an extreme caliber.
February 15th, 2008 at 9:20 am
My guess is that she’s a devotee of the Secret:
http://www.thesecret.tv/
February 15th, 2008 at 8:28 am
in the interest of balance:
http://tinyurl.com/225ok6
Meanwhile, sell your real estate now. Sell it now. Now. Get rid of it. All of it. Even if you can’t get 2005 prices (and you won’t). Get what you can now, set the money safely aside
February 15th, 2008 at 8:21 am
Why is this person trying so hard to paint a rosy picture on a bleak backdrop?
i would guess so as not to panic the sheeple….
February 15th, 2008 at 8:10 am
That was a piece of trash article, blueskies. Talk about selectively looking in the rearview mirror. The author even infers motive on U.S analyst:
This probably won’t stop lots of economists in the U.S. from continuing to forecast a recession. But what must be remembered is that many of those economists work in the financial sector, which has been one of the hardest hit by the housing credit crisis. Their outlook is understandably gloomy, but does it hold true for the whole country?
I think the author is due for some introspection. Why is this person trying so hard to paint a rosy picture on a bleak backdrop?
February 15th, 2008 at 7:49 am
Relax, the sky’s not falling
http://tinyurl.com/25596w
The housing market here is still strong,
the financial turmoil has been muted,
and high energy prices benefit the Canadian economy because we are a net energy exporter.
see! it is different here!
February 15th, 2008 at 7:34 am
NAR Q4 numbers out. Accompanied by the usual spin. Here are the top ten in U.S. dollars:
San Jose-Sunnyvale-Santa Clara, CA 845.3
San Francisco-Oakland-Fremont, CA 777.3
Anaheim-Santa Ana, CA (Orange Co.) 657.4
Honolulu, HI 625.3
New York-Wayne-White Plains, NY-NJ 523.3
San Diego-Carlsbad-San Marcos, CA 522.9
Los Angeles-Long Beach-Santa Ana, CA 509.7
NY: Nassau-Suffolk, NY 461.7
Bridgeport-Stamford-Norwalk, CT 460.2
New York-Northern New Jersey-Long Island, NY-NJ-PA 457.4
February 14th, 2008 at 10:34 pm
Sofia,
Still got one and half hours left so
http://www.123greetings.com/ev.....oses2.html
this is related to housing sector because every single house require a pair of la belle et garcons,Happy Valentines day.
February 14th, 2008 at 9:58 pm
B.C. buys 6 more hotels for homeless in Vancouver
http://www.cbc.ca/canada/briti.....otels.html