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http://tinyurl.com/25ubbw

I think our society has been sold a pile of crap that we’ve bitten on hook, line, and sinker

If I could log on to that other blog I would have read the above, and I would have to warn you that you could end up on probation just like snick,

Heck you could get banned like me.

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http://tinyurl.com/29aycp

incoming sunlight could be considered “cellulite”

…from craigslist Spectrum ad

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I hope their greed keeps them in the market long enough so that they won’t be able to unload their investment on to some poor, honest,and hard working first time buyer, who sees a home for what it should be, and not a poker chip.

I am quite convinced greed and denial will keep the greedy fools from exiting at the first signs of trouble.

As inventory levels rise, they will just interpret it as a temporary lull.

The beauty of bubbles is they leave a lot of excess capacity as well as updated inventory behind, too bad some of it will leak.

The good thing is the specuvestors who deserve the bad karma, will be holding the bulk of the leaky condos.

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You’re my favorite Boomer.

Craigslist:Harbinger of dooooooooooooom!!!

As it happens, I’m in the market for a 2bdrm. Do you have recommendations? My only two criteria are no grow ops, and no krrish….

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And several ads for our fave building Spectrum. The asked rents fluctuate wildly…. there are several one bedroom suites asking the same price as the 2 bdrm suites, and one townhouse that’s 1850, which is about what people are asking for some of the 2 bdrm suites.

I think we’re looking at an England style meltdown, where the “let to own” specuvestors gets burned first…

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Its mostly about the ‘harm reduction’ policy for drug addicts and prostitutes. I wasn’t aware of the extremely high levels of disease in that neigborhood, they say HIV infection rates are the same as Botswana.

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What? Vancouver lumped in with California, Nevada and New York? But we’re different here right?

I love that we’re getting lumped in with the biggest US bubbles in a globally read financial letter!

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Why do I keep harping about rentals?

Because if “investors” can’t get $1500 per month to offset their $3,000 mortgage it’ll cause the crash to occur faster and also make it even more of a renters market while it happens.
Secondly if the rental market is already saturated ,as badly as it is now, imagine what will happen when another 10,000 units flood the market and the transient construction workers (aka renters who’re paying above market rent right now and also renting hotel suites) move along.

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What? Vancouver lumped in with California, Nevada and New York? But we’re different here right?

I love that we’re getting lumped in with the biggest US bubbles in a globally read financial letter!

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Just for the bears who are locked out of rob’s blog, but want to know this useless info.

Remember these numbers are completely useless unless we know the numbers behind the numbers.

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Canadian officials in Beijing turned blind eye to reports of immigration fraud

Basically a young clerk in a Beijing office reported to canadian officials the practice of requiring young healthy people to get x-rays that are then put into the medical records of people with medical problems who want to move to Canada. Sounds like the Canadian government hasn’t done anything about it.

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I also think our major tax paying industries are a lot more sustainable than the US’s. You can’t outsource resource industries and farms, and they produce stuff that the rest of the world wants.

I think finding a job there would be the ‘easiest’ route for a Canadian to move to the US

Indeed it is, but the problem is that except for the NAFTA scheduled occupations, it’s just as easy for a US employer to bring in someone from India (H1B) as from Canada. And they work for a lot less.

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Ok, it was just a question, no need to get insulting patriotz. I think finding a job there would be the ‘easiest’ route for a Canadian to move to the US, but I don’t have experience with that so I’ll take your word on it.

Your later response about medical insurance is in my eyes the main issue. For younger people the increased cost of private medical insurance is made up for by the lower cost of living, but its trickier for boomers. I think you can live part time in the US and keep your Canadian medical insurance. You’d still have to get travel insurance for the time you’re in the states, but I think this is what many snowbirds do.

Still not sure if that would justify buying a place in the states vs. just renting it while you’re there.

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Honolulu property market

Seems like at least Honolulu is spared from the subprime plague (perhaps, simply because there’s no need to entice people to buy its coveted real estate). I would jet to Hawaii in a jiffy if I got a green card, work or no work waiting.

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http://tinyurl.com/2s2brl

Looks like a few banks are finally throwing in the towel on the Miami condo market.

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Today I walked by it and it looked like a porn star convention with all the glitzy realtors descending on the place in their flashy cars, in fact they were all over the place. Guess it’s their open house day, the day they all try out the beds and then go for lunch or something.

Keep an eye on this place. See if it drops any further by Springtime and then we will know if the hype factor in Vancouver is dying out as I suspect it is.
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And what would a post by me be without this…..?

When the investment world finally wakes up to the shortages, and soaring demand will make it difficult to find any investment silver at any price this side of $100 an ounce.

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Well I think your imagination needs some exercising. You think 2007 was bad? It was just a warmup. The real carnage is yet to come.

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I could move to the US under NAFTA but there’s one big problem – medical insurance – practically unobtainable at any reasonable price for someone in my age group (boomer). Anyone following the news knows that employers are bailing out of providing it to anyone other than the least risky.

Were that not a problem I’d be happy to live in Seattle, frankly I think it’s a nicer place than Vancouver now, better jobs, lower taxes, and cheaper housing.

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