but look at your Vancouver friends and relatives over the last 40 years - 20 years - 10 years - even two years. We could not have had a more volatile market and yet had you bought, at any time, you would have outperformed all others.

Well, that does it. Sign me up right now. Imagine that; it wouldn’t matter if you bought 40 years ago or two years ago - it’s all the same. Money in the bag.

I’m so totally sold on that idea.

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“Restricted”, eh?

Here’s the footer at the bottom of the article:

Ozzie Jurock is a Canadian real estate adviser and author of Forget About Location, Location, Location. He is featured in Donald Trump’s latest book, Trump: The Best Real Estate Advice I Ever Received. Your can reach him by email at oz@jurock.com or at http://www.reag.ca.

BWAHAHAHAHAHAHAHA! Good call Jade!

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Looks like it was written by Ozzie Jurock.

“It is the ONLY true wealth creator over time. “

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loved that Sun article!

they couldn’t even print the name of the shill that wrote it.

me thinks the end times are nigh……

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“There were 271 new listings today and 188 sales for a sell/list of 69.37%. Inventory reached 10,808, of which 2,633, or 24.36% were over 90s.

Over the last three days there have been 760 new listings and 428 sales, for a sell/list of 56.32%”

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http://tinyurl.com/26l7ob

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So I guess the assignees will be paying the “lift” twice. Am I understanding this correctly? This could mean many hundreds of thousands of dollars in losses for some people. Possibly bankruptcies over this. Maybe even lengthy legal battles.

Is this just the beginning of a wave of condo projects going into receivership?

This is getting exciting. (munch munch) I wonder what’s next…

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Unlike the OFHEO or Case-Shiller (or for that matter CMHC and the real estate boards), we don’t know anything about Housing Predictor. We don’t know who they are, we don’t know their credentials, we don’t know their track record, we don’t know their methodology, and we don’t know their motivations.

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http://www.cbc.ca/canada/briti.....ouble.html

If these insiders were speculators, this is really, really funny…

“The receiver has discovered that 23 condos in the Chandler Development Group projects were allegedly sold to insiders at prices well below market value, Bowra said.

They may get to keep their condos, but will likely have to pay today’s prices, he said.“

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OFHEO is based on mortgages handled by Fannie Mae and Freddie Mac, while Case-Shiller uses publicly recorded data on all home sales in selected communities.

http://www.econbrowser.com/arc.....es_fa.html

Dunno, bcubbins, 9.8% last year. Is 8% so wackadoo for 2009?

Keep repeating it until it sinks in though. House prices in the US declined nearly 10% nationally last year. And the bottom is nowhere near.

Nothing to do with us, though. Nothing to see here. Move along.

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I like your comment tough atleast put my head back to where it belongs.

SONIKA,

You don’t know the economy of the world right?Do you know who is depend on whom? anyway this world is affordable because of China and India. we get cheap stuff because of labour cost in their countries are cheap,lots of people in the world can fill their tummy on low cost and decorate their homes with needy items.

Special:China and India can produce 95% of their necessities they are depend on the world for only five per-cent.

If you turn the table around 95% people can not afford to buy our stuff because of labour cost in westren and european countries.-Lesson for the quarter you are throwing.

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bcubbins: c’mon, you don’t expect the same level of unbiased science based facts and figures you would get from the real estate board and CMHC?

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My guess is that their hoped-for business model is to issue sensational press releases thereby attracting traffic to their website, and then rake in ad revenue.

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http://tinyurl.com/36vzmn

Scrambling to find a bottom, the U.S. real estate market is falling further and further in most areas of the country. Home prices nationally will deflate an average of more than 8% in 2008, according to the new Housing Predictor forecast.

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Unfortunately ’stagflation’ also rearranges into ‘got anal fits’!

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But the Fed will be hamstrung, he said: “At some point the Fed needs to worry that an aggressive fed funds easing will lead to a disorderly fall of the U.S. dollar, to foreign private investors pulling the plug on the financing of still large U.S. external deficits and to higher imported inflation. Second, monetary policy is relatively ineffective in stimulating the economy as: there is a glut of housing, consumer durables, automobiles and it will take years to clear that glut.”

http://blogs.wsj.com/economics.....ggressive/

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Check out Nouriel Roubini’s testimony to Congress yesterday:

http://www.house.gov/apps/list.....022608.pdf

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Pathetic and desperate( aside from boring).

And he wanted to charge?

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Now why would all these wisemans choose not to “buy our own place what we need is a monthly payment and some money for food and entertainment”

Does this mean no one wants to spend over $6,000 a month to own a 1050 sq ft unit on a busy street in the west end? Where are these manual labourers who’re making $240,000 like Krissh and Tom Vu who want to be world class and ” Desire:when we know we have to live our life in this city forever”
Forever or until the warehouse that Krissh works in lays him off and he ends up standing in line at Labour Ready, hoping to make $10 an hour to shovel dirt in the rain.

Go Krissh go!
Please stick around as the market runs out of buyers and the onslaught of new units hit the market.

Bill Eden figured 95% of the Sophia buyers were speculators.
A wiseman told me that 75% of downtown units were purchased by speculators.

This means krissh and dosh better hurry up and start buying because no one else is.

“When we reach up to here no more fuss just beautiful life is above to begun rest is a history start of the new day.”

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1) the US is the world’s foremost consumer of everything.

2) They are losing their appetite for “stuff” (local housing, cars etc)

3) We are their biggest trading partners, NOT China. WE sell them BC lumber for their homes, and cars made in Ontario

4) Even the cheap crap they buy from China and India may be made in part or whole from our “commodities”

5) The world holds a huge number of US denominated debt and assets. As the USD falls those assets drop in value, reducing those countries’ total ability to purchase our “stuff”

So no I would guess we’re not in great shape.

And KRRRRISH,
the things that is better then owing “stuff” right now is having money in the bank. When the recession hits and you lose your job (and with people buying less “stuff”, there’s less “stuff” to move around, so get ready), and all those construction workers etc put their overvalued assets up for sale only to discover it isn’t as easy as they thought to make a cool 100K in the market, you’re going to learn a valuable lesson.

But that’s ok, I’ll flip you a quarter when I see you on the sreet. Maybe you can sell a kidney or something to make the mortgage payment….

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It’s such a remarkable ignorance to think that somehow we’ll seperate from the influence of our biggest trade partner at just the right time. The government acknowledged that with yesterdays budget which expects more slowing and even then some have complained that it doesnt do enough.

http://www.theglobeandmail.com.....budget2008

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