Blueskies, that’s the funniest thing. The Comfort Zone (the club that guys was in) is infamous. It’s where you go after you’ve been tripping your brains out all night somewhere else. It’s open all day Sunday. IF that guy was in that club, he’d been snorting coke all night long and was deeply sketched out.

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http://tinyurl.com/2e54×6

i’m willing to bet this guy has Vancouver RE in his portfolio.

probably buying it nose over mirror

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How many will be sold by the end of the day?

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I did a search on MUST SELL and the first three…. count ‘em THREE postings were from Jeff, who I believe often posts on various RE blogs….

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As I have mentioned before, demographia botches the Vancouver numbers, the ratio is more like 13 x median income.

13x income would be for the REBGV’s benchmark detached number. Demographia is the only place where I have found an apples to apples comparison for Vancouver and US cities. REBGV and RBC use benchmark and average, but the NAR in the US uses median. Benchmark prices are good to see how a given property appreciates over time, but for affordability, I like to use median.

Demographia (Median SFH) - $503k - 8.4x income
RBC (Average bungalow) - $604k - 10.2x
REBGV (Benchmark detached) - $761k - 12.8x

Is there anywhere else that keeps median prices for Vancouver?

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As I have mentioned before, demographia botches the Vancouver numbers, the ratio is more like 13 x median income.

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Crabman sold his unit for 750k in 2006 in dec 2007 that was listed for 1499k now Crabman has decided to pack his suit case to say good bye….if anybody cheat with next buyer hahahaha becomes Crabman”-a lesson to learn.

Can’t believe I’m responding to the troll….

Krrish, you have the right building, but wrong unit. I had one of the 2 bedrooms, not this one. Which now is lowered to 1,399k and at $816/ft (compared to low $600’s/ft in other units in this building) will not sell.

Let’s compare median house prices to comparable US cities: link

Vancouver - $503,400 - 8.4x median income
Seattle - $377,500 - 5.7x
Portland - $290, 500 - 5.0x

Also, the prediction for Seattle and Portland are -16% and -15% for prices from now until the bottom. This would result in Seattle and Portland being about 1/2 the income multiple of Vancouver.

Seattle - $317,100 - 4.8x
Portland - $247,000 - 4.2x

Vancouver was severely overpriced in fall 2006, it’s insanely overpriced now, and every extra dollar of future appreciation will make it that much more overpriced. I don’t expect a correction, I expect a big crash (~35-40%). If not, I will happily take the proceeds from my 2 bedroom Vancouver shoe-box and buy a nice house in the West Hills of Portland.

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Here’s a graph of Shanghai stock market. Ouch! This is what Van RE price chart will look like in 3-5 years:

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you are wrong. Everyone wants to live in Victoria not Kelowna. Victoria baby!

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He also talked about the new banking regulations in the US that will have the Fed over-seeing ‘market stabilization’. He was saying that since the Fed is responsible for creating the mess in the first place, this is like; he called it, ‘Putting the Fed in charge of the hen-house’. He said this news should scare the bejeebus out of anyone.

Interesting interview. Sadly, he was on for just the first hour, he was just getting rolling.

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As near as I can tell from the squiggly lines on charts, the FV was a couple of months ahead of Vancouver in ‘81.

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Crabman sold his unit for 750k in 2006 in dec 2007 that was listed for 1499k now Crabman has decided to pack his suit case to say good bye.

“You just said it yourself”
“Vancouver Real Estate,There is just one way EXIT.”-up,up,and up,if anybody cheat with next buyer hahahaha becomes Crabman”-a lesson to learn.

Flippers are UP,Investors are UP,Owners are UP,and Buyers are UP because they hate to pay next bounce so they are trying to get into it on right time but I can see some “wisemens are blowing their whistles” but oh no “horseman is not showing “UP”- I will take a leave because Darling in se#y bikini and Mr.Dick is…..?
will be back right after the break.

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I’m not all that familiar with the area, but just drove through parts of Abbotsford and Langley, and was astounded by the number of “for sale” signs….actually saw several being pounded into the ground in passing.

I’m surprised that the epidemic is starting before April & May. Is this a normal post-Easter thing?

Also wondering if previous crashes in Vancouver started in the valley.

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If you list it now you may be able to sell it for what you paid, but that’s much better than lining up with the other 250 flippers who’ll be trying to sell in the next few months. The buyers will have two options
1.Sell for a loss or walk away from deposit.
2.Try to rent it and lose $2k per month, like the neighbouring Spectrum buildings (still has vacancies after six months!).

You just said it yourself
“Vancouver Real Estate,There is just one way EXIT.”
EXACTLY, for once the idiot got something right!

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Hang on, the market is crashing. The market will be flooded with more units.

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Wow, krissh #44 or whatever, your writing style is certainly more fluid than usual. Did you get lazy about ethnicizing it? Maybe it’s time to get some professional ethnicizing software.

Now have you not considered that one of Vancouver’s hottest industries is real estate itself?

When I was a kid (forty years ago +) I worked for a large and well known jeweller in their Montreal head office. The office manager was a clear-thinking guy who explained to me one day that if all of the company’s sales ground to a halt and they closed all of the stores across Canada, that the 100 or so employees in head office could keep going for a long time just keeping track of head office activities. It would of course be a useless and fruitless activity but the natural consequence of a group of people who lack vision, look only inward, lose track of their purpose and overestimate their value.

This is how the Vancouver real estate industry is right now.

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Hahaha touché!! It’s funny because it’s true.

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