Comments on: Translink wants more money

By: Anonymous

Anonymous — Thu, 20 Mar 2008 20:11:14 +0000

Anonymous 2008-03-20 17:50:46, Did you go to school? Do you know how to think? Why would someone want to sell in a rising market? It's because the have to!! That's the same reason why someone will sell in a falling market!!

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By: blueskies

blueskies — Thu, 20 Mar 2008 20:02:19 +0000

Whether they want to sell or not may be immaterial, one way or the other that property will be on the market. very true! from weak hands to the strong

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By: Clarke

Clarke — Thu, 20 Mar 2008 19:54:39 +0000

I suspect that when things crash there will be more than a few people that are terribly overextended, and probably are holding condos or SFH that will be in negative equity territory. Whether they want to sell or not may be immaterial, one way or the other that property will be on the market.

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By: patriotz

patriotz — Thu, 20 Mar 2008 19:09:52 +0000

Keep in mind people paid a lot for their RE and are expecting a good return. People were expecting a good return from their Nortel shares too. People can expect anything they want. RE will only sell for what buyers are willing to pay. And I don't go along with this "people don't have to sell" stuff. People do have to sell, except for those making lateral moves within the market, which are irrelevant to supply and demand, and investors in sustainable cash flow positions, who will be incented to get out by falling prices. Maybe not right away, but soon enough. Don't forget the builders too.

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By: scullboy

scullboy — Thu, 20 Mar 2008 19:08:12 +0000

Anon, It's still a seller's game in that case. When prices are skyrocketing and demand exceeds supply, buyers tend to jump at any opportunity and compete with each other. In the case you cite, the sellers merely have to wait Sooner or later the seller MUST sell, particularly with home prices falling due to oversupply.

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By: Anonymous

Anonymous — Thu, 20 Mar 2008 17:50:46 +0000

I have a friend who is a RE agent. On Jan 1st he guaranteed me RE would go up 10% this year and said it’s still a seller’s market. I saw him the other day and he now says 10% gain only for downtown and it’s turning into a buyer’s market. Funny how RE agents can change their tune so fast. Actually, a down market is neither a buyer's nor a seller's market. Sellers don't want to sell because they think their property is worth more than buyers are actually willing to pay. Buyers don't want to buy because they think (correctly) that prices will only go down further. This explains why the number of transactions in places like LA is at an all-time low recently.

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By: Anonymous

Anonymous — Thu, 20 Mar 2008 17:48:01 +0000

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By: jesse

jesse — Thu, 20 Mar 2008 17:13:59 +0000

Oops meant offer HIM 50% of the returns.

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By: jesse

jesse — Thu, 20 Mar 2008 17:10:45 +0000

"On Jan 1st he guaranteed me RE would go up 10% this year" In that case I have a proposition: I'll put up all the capital and offer you 50% of the "guaranteed" returns as long as he covers all losses. Since losses are by definition impossible it's monay in da bank.

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By: King Leaky

King Leaky — Thu, 20 Mar 2008 15:29:27 +0000

If a RE agent will GUARANTEE a 10% increase in one year in any area take them up on it before the kool-aid runs out! If they will put their money where there mouth is and make up for any difference in market price of a unit to total a 10% increase you can't lose. Take out a 40 year mortgage, put no money down and walk away with the extra money at the end of the year no matter what the market does. ..but I'm guessing his guarantee is meaningless and not backed up with cash right?

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