Comments on: Vancouver prices edge up in January 2008

By: dont worry be happy

dont worry be happy — Tue, 19 Feb 2008 01:20:24 +0000

Vancouver,s special. Property never loses value, interest rates can never go up. There is no speculators. We can’t have a recession. Canada is different than the rest of the world.

I have never heard so much crap from adults in my life as I hear from realtors and the media realestate shills.If people want to believe their spin they put on everything than they deserve a 40 year mortgage for some overpriced poorly built shack nestled in a crime invested dump like Vancouver.

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By: evergreen

evergreen — Fri, 08 Feb 2008 05:48:56 +0000

I’m priced out right now. There is nothing I can do about it. Just gotta keep living life. Me, too. I've missed the boat and won't be jumping excitedly onto any raft that comes by.

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By: Andreas

Andreas — Fri, 08 Feb 2008 05:19:59 +0000

Shrug. I don’t care anymore. The more you guys bicker the more I laugh.

How many of you are ready to buy a place granted the bank will give you a mortgage if prices drop like insanely fast?

I’m priced out right now. There is nothing I can do about it. Just gotta keep living life.

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By: freako

freako — Fri, 08 Feb 2008 02:50:26 +0000

The accepted definition of a recession is two quarters of negative real GDP growth.

By this definition, we can’t obviously confirm one until Q2 2008 has closed. It will take more time to compile the numbers. But if the growth turns out negative, we are in a recession now.

The annualized pace for Q4 2007 was 0.6%, it was probably negative for December. When economist say that we are in a recession now, they don’t mean that it is a proven recession. They are saying that growth is negative, and a formally defined recession is bloody likely.

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By: Drachen

Drachen — Thu, 07 Feb 2008 20:16:18 +0000

Therault:

“..real, happy and oh-so-positive!”

Well we’re not here to blow sunshine up your ahh .

Positive thinking is great for creative pursuits but unrealistic positive thinking doesn’t help anyone it just creates unrealistic expectations, bubbles and unwinable wars.

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By: krrish1

krrish1 — Thu, 07 Feb 2008 19:12:44 +0000

in my opinion
“if you lose your girl friend that would be recession and if i lose my girl friend that would be depression”

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By: Therault

Therault — Thu, 07 Feb 2008 18:17:19 +0000

..while we are on the topic we should also define “depression” to to keep the conversation real

..real, happy and oh-so-positive!

The food bank can be a great place to meet your neighbors!

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By: blueskies

blueskies — Thu, 07 Feb 2008 18:06:18 +0000

and they should at least know what the word means and why we’re hearing it so often these days.

very good point!… and while we are on the topic we should also define “depression” to to keep the conversation real

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By: Snark

Snark — Thu, 07 Feb 2008 17:44:38 +0000

I’m guessing 90% of the people who poked fun at this person don’t know that recession is defined as 2 consecutive quarters of GDP decline

I’m guessing you’re wrong. I’m by no means an economics wizard, but even with a passing interest and the reading of occasional newspaper article it would be hard not to know how a recession is defined. Like it or not recession fears are playing large in the media right now and almost every article has that basic definition in it for clarity. It IS possible that we are already in a recession, but we wont know for sure until the numbers are all in for two quarters.

Sorry all my comments can’t be informative and educational, but the definition of a recession is pretty basic and my main point still stands: a recession would have an impact on anyone in a sales profession and they should at least know what the word means and why we’re hearing it so often these days.

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By: Londonernow

Londonernow — Thu, 07 Feb 2008 14:11:41 +0000

sorry full link with a tinyurl

http://tinyurl.com/2zaxcy

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By: Londonernow

Londonernow — Thu, 07 Feb 2008 14:07:50 +0000

Bloomberg top news link: Canada Economy Reels as U.S. Slowdown Cuts Factory Orders, Jobs

http://www.bloomberg.com/apps/.....y.nrSWKlgU

Obviously thought this is no consequence to Vancouver.

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By: Anonymous

Anonymous — Thu, 07 Feb 2008 07:55:09 +0000

I think Cympl’s point was that the US can’t be in a recession right now because a recession is 2 quarters (6 months).

He is incorrect, they may very well be in a recession, but we won’t know until 2 quarters have passed. You can only really prove a recession has occured in hindsight.

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By: patriotz

patriotz — Thu, 07 Feb 2008 06:33:14 +0000

Vancouver is 70% more than Toronto with the same rents. Not to say prices in TO can’t fall but there are some properties that are cash flow positive, and I wouldn’t call that a bubble.

Ottawa and Montreal are cheaper than Toronto. Ottawa in particular has high incomes, low taxes, and low house prices.

No there is no nationwide bubble. Nothing compares to BC, not even Alberta these days.

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By: ReductiMat

ReductiMat — Thu, 07 Feb 2008 06:04:32 +0000

Cympl, are we experiencing inflation right now?

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By: Re-diculous

Re-diculous — Thu, 07 Feb 2008 04:36:13 +0000

I seem to recall that Las Vegas was the hottest RE in the US just a few years ago……why rather like Vancouver. Look at it now: “Las Vegas tops Foreclosures list”

http://money.cnn.com/2008/02/0...../index.htm

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By: crabman

crabman — Thu, 07 Feb 2008 04:27:43 +0000

When I lived there, a prostitute was knifed to death on the 10th floor, and the cops shot a drug dealer in the parking garage. Also, some jerk-off would set off the fire alarm about once a month (usually around 11:30PM).

Oh, and some guys with crowbars once broke into the mail boxes…

Glad to hear about the pool though!

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By: blueskies

blueskies — Thu, 07 Feb 2008 03:20:40 +0000

Blow hards are evident here on this blog

they provide 80% of the heat in here

good way to stay warm n’toasty

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By: Strataman

Strataman — Thu, 07 Feb 2008 02:54:50 +0000

“we are already in a recession (not possible) or we are heading into a recession” Really? aren’t you the expert. Most all of my friends know the definition of recession, mind you they read as opposed to watching some stupid reality TV. Funny though your saying exactly what all the experts in the states said, nope no possibility of a recession. Do you know our lumber industry is IN recession NOW? Do you? Do you know that 80 cents of every buck anybody in this town makes averaged over the population is Forestry? bet you don’t. Next time you buy of use something just take 80% of the buyers or users away and 80 % of your health care and government services. Blow hards are evident here on this blog your a big one! (Not possible)

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By: blueskies

blueskies — Thu, 07 Feb 2008 02:49:28 +0000

fascinating read on mortgage debt and that “other” great depression

http://tinyurl.com/38ckgg

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By: Cympl

Cympl — Thu, 07 Feb 2008 02:23:59 +0000

” ‘what is a recession’?

Oh geez. Unless happy thoughts and faith are enough to save us, we’re in more trouble than I thought.”

I’m guessing 90% of the people who poked fun at this person don’t know that recession is defined as 2 consecutive quarters of GDP decline…I’d rather have someone tell me they don’t know what a recession is than have blow hards tell me we are already in a recession (not possible) or we are heading into a recession (please let me use your crystal ball).

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By: Anon

Anon — Thu, 07 Feb 2008 01:18:41 +0000

Something I really don’t understand is people who deny the bubble, but bought in 2001-2002. They’re sitting on a potentially fat profit if they sell now and rent for a while. I only know ONE person who did that. Sold there house last year in Richmond and waiting now. They’re going to look like geniuses when they can buy a BETTER house, and located in Vancouver Westside, in a few short years with their profits.

But no, 99% of people don’t want to take the risk of selling because prices MIGHT double again in the next few years i.e. they will be priced out forever and/or lose out on even more paper profits.

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By: btk

btk — Thu, 07 Feb 2008 00:13:10 +0000

Re:#2806-939 Homer.

The Pinnacle is not only one of the uglier buildings downtown, it’s become quite well known for being over run with trouble makers. The Resident Manager (Marco) was replaced and the next one quit. The building has a lot of damage in the common areas, and one elevator is always broken. Several of the residents I know in that building say there is a problem with drug dealing and that the strata has hired a security guard , part time, to try to combat the problems. On a positive note they say that the pool is looking cleaner lately.

But hey, buy that unit for $1.495 today and you will be able to sell it for $3 million in two years… Just ask the trolls on this board. Vancouver is different and despite a recession everywhere else Vancouver will only go up forever!

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By: richard

richard — Thu, 07 Feb 2008 00:01:47 +0000

vancouver permits up 30% in 2007

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By: blueskies

blueskies — Wed, 06 Feb 2008 22:08:59 +0000

there are two kinds of markets

rising (up)

balanced (non up)

negative sentiment will
not be entertained!

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By: Anonymous

Anonymous — Wed, 06 Feb 2008 21:28:22 +0000

aha crabman,
some one making double on your sold unit may be just a reminder for you “summer of 2006″.

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