Local blogs in Vancouver Magazine
BDK posted a link to this article in Vancouver Magazine titled ‘sitting out‘ which shines some light on the hidden world of real estate bears and bulls that lurk online in the lower mainland.
Its quite a good article, outlining the basic points that go back and forth on both sides of the Vancouver boom/bust argument and profiling a local couple that recently sold:
In 2002 Felicity Stone and Jim Patton stumbled onto the real-estate mother lode, trading up from a house in rural Langley to a thoughtfully designed home on two acres in the Elgin Chantrell area of South Surrey. Patton, a communications consultant, and Stone, who works in public relations, were happy to pour work and money into the place, expecting to live there the rest of their lives. Then their outlook began to change. Much as they loved the 1962 gem, they also saw what nearby property was selling for. In August 2007 they decided to list, and by November they’d accepted $1.616 million—a 240 percent increase from the $475,000 they’d paid a half-decade earlier. Now they’re renting a house in the Bayridge area of West Van, paying $2,500 a month while they watch the market and wait for prices to drop.
They even link to several of your favorite blogs (VancouverCondo.info included) - my only complaint is they seem to have munged up the link to this site and they left out three interesting and useful sites which I’ll link to here:
Paul Boenisch and his amazing REBGV statistics
Mohicans analysis at langley-financial-planning
and the interesting new Vancouver RE anecdote archive
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March 27th, 2008 at 4:35 pm
March 27th, 2008 at 5:43 pm
March 27th, 2008 at 5:44 pm
March 27th, 2008 at 5:49 pm
Thanks, nice to see you have not forgotten about me.
March 27th, 2008 at 5:50 pm
I have had a rough day.
March 27th, 2008 at 6:02 pm
March 27th, 2008 at 7:52 pm
The fact that the mainstream is even giving this some credence, as well as the comments about the vulnerability of the condo market is certainly different, but still a bit underwhelming.
March 27th, 2008 at 9:19 pm
Underwhelming. Good word. That sums it up.
A few of us have been watching this debacle unfold for at least a couple years. But by Vancouver standards, this ‘news’ article is considered to be cutting-edge commentary.
I guess that’s the best we can do.
Underwhelming, indeed.
March 27th, 2008 at 9:55 pm
This article is a lesson for the bears
“Everywhere has problems. Vancouver’s are minor and vastly outweighed by its strengths. Livability is still excellent compared to almost anywhere else”.
They just need to add few more lines Like:”The best ever r.e.eclipse”Vancouver B.C.The best place on earth”-Mind It.
March 28th, 2008 at 7:47 am
If you REALLY want Vancouver to be the best place on earth I’m afraid you’re going to have to leave.
March 28th, 2008 at 7:47 am
Coco - don’t worry too much about the specifics, its not my real name anyways
Hope you’re having a better day.
Punface - good point, I’ve added that option to the poll.
March 28th, 2008 at 7:52 am
Remember that journalism is all about what happened, not an accurate predictor of what will happen. Take a look at changes in US articles between 2005 and now. Everything was booming and the articles reflected that - now its common to see reports of an expected 25% drop in house prices there.
March 28th, 2008 at 7:57 am
Construction costs and interest rates are always changing, since when are those good long-term indicators of a markets health?
March 28th, 2008 at 9:01 am
World has changed since than people likes to live peaceful life,There are lots of problem in European countries and UK to keep multicultural standard in chain,American Borders are very tight since long time people who don’t like to sit on their bank balance those people always look for safe investments.
Let’s say USA is first choice for the world to invest but they have external,internal problems.When Americans are investing in Vancouver,B.C. it’s easy to assume that “world will follow the rule of thumb”.
When Interest rates are low that’s mean you are not paying the burden to the banks what you are paying is a cost of your place to live.
“Population has always grown up”yes that’s true,Then the point is how many parking lots are left to construct that gives stress to develop more land,the biggest ever CARD for investors to PLAY SAFE.
Beauty,Weather and Universal language brings Vancouver to a best alternate compare to European and Asian countries and compare to the problems in the USA.
Vancouver does not only attract the overseas investor but because of weather condition-
” Vancouver is a final destination for Canadian people from with in provinces”.
Strong Economy,Low Interest Rates,Growing Population and Remaining land,These facts are showing us only one direction and Vancouver has changed in look as well after 2009 we will see the city in new lime lights.
March 28th, 2008 at 9:13 am
This reminds me of friends and family that live in small town BC - they don’t understand how I can live in this city because they’re experience of it is through the evening news, they think people are constantly getting shot and disasters are happening all the time.
Try traveling a bit before you proclaim this place the greatest place on earth and a safe investment. This is the wild west, full of speculators and con-men. Its a beautiful city, but there are better, and there are definately much safer investments.
March 28th, 2008 at 9:18 am
The guy was quite intelligent and confidently told me that since the Olympics the prices had gone up 14% per year.
When I went back in November 2006 he did not mention their additional property and I’ve read that the prices had not done much. This is despite being one of the nicest cities in the world with a great climate, lots of high paying jobs,major tourism, immigration, very few down and out homeless people walking the streets and (drum roll please) THEY HAD THE OLYMPICS!!!!!!!!
They also offer a safe place for
“Beauty,Weather and Universal language brings Sydney to a best alternate compare to European and Asian countries and compare to the problems in the USA.”
The point here , Krissh, is that macro economics are way beyond most peoples scope (including mine) and you are about as dumb as they get if you aren’t actually retarded so there is no way that you can understand or offer anything relevant to this blog.
At least I know enough to know that I don’t know much.
You on the other hand prove that ignorance is bliss.
March 28th, 2008 at 10:16 am
as i said earlier:
Vancouver, the last place on earth
scary enough i’m agreeing with krssh2…..
March 28th, 2008 at 10:46 am
So in your mind people only recently decided they wanted to live a ‘peaceful life’, and Vancouver is the only peaceful place on earth?
Wow, you should really get out more.
March 28th, 2008 at 12:48 pm
I know I know! Are you Cornholio? Second guess: SweetHomeKilla?
March 28th, 2008 at 12:56 pm
Hello Realtard, just wanted to let you know that Canada and Vancouver are the USA’s bitch and so are you. If the USA “have external,internal problems” then so does Canada only much worse. If you didn’t spend your whole day looking at the inside of you ass you might have time to look back on Canada’s history and see that when the USA is hurting Canada gets hurt much worse. Welcome to Canada you assclown.
One question, what evidence do you have of Americans investing in Vancouver? Americans can’t even hold on to their own homes and you think they’re investing in Vancouver at record low exchange rates? Canada is in for a world of hurt if you represent the intelligence of our immigrant population.