Comments on: Vancouver real estate market slowdown?

By: Reality Check

Reality Check — Mon, 10 Mar 2008 20:43:21 +0000

Had the opportunity to speak with one of the key figures in the 2010 Olympics last week, his words resonate with me today.....there is a bubble and it's heading here. Basically the US economy is in extreme downturn, China has just surpassed Canada as the US' main trading partner....bad US economy tranlates into poor demand for China's products....poor demand for China and Asian products in general means there will be no money from overseas to fuel our real estate market. He mentioned about looking at the number of 'assignments' coming up on the market as an indicator...these are pre-sold units where the investor hopes to unload at a profit with no intention of carrying the mortgage...these are up and are beginning to have an effect on recent completed builds.

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By: Michael Randallbard

Michael Randallbard — Thu, 06 Mar 2008 02:38:24 +0000

But 28 years of decline has soured the US public on gold. If they are interested at all, they abide by the wise men of the government and the Federal Reserve. "Gold is history," they are told. "Gold is a story whose time has past." "Gold is a relic from another era, a useless metal used in fancy dentistry and in jewelry.

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By: Michael Randallbard

Michael Randallbard — Thu, 06 Mar 2008 00:58:49 +0000

yeah blueskies that's why I can buy a million dollar home outright from my gold and silver purchases since 5 years ago. Who cares what happened 204 years ago? Not me. What counts is now. 204 years ago a house in Vancouver was made of twigs and mud and cowhide. Is it worth anything today? You aren't too bright, maybe this chart will enlighten you. Gee, looks like almost a 500% gain in 5 years, certainly better than stocks or homes

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By: evergreen

evergreen — Tue, 04 Mar 2008 16:07:01 +0000

Thanks, jesse. It's sheer madness to buy a leasehold condo at an average $400K. Living like a Tibetan monk might be a good solution while we wait...

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By: jesse

jesse — Tue, 04 Mar 2008 12:17:13 +0000

"Do you know if this ratio has changed since then?" Yes it has. The trouble is that the average lot size has been decreasing so it's difficult to compare apples to apples. More families these days are opting for townhouses where 25 years ago they would be comfortably in an SFH. The ratio may have changed a bit recently with longer amortizations on mortgages but this is really a hidden cost. It will all come out in the wash but you may need the patience of a Tibetan monk.

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By: visio

visio — Tue, 04 Mar 2008 09:46:13 +0000

Remember Syndey? Did they have Olym'pimps' too?
http://www.news.com.au/business/money/story/0,254…

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By: blueskies

blueskies — Tue, 04 Mar 2008 07:36:19 +0000

gold!?! http://tinyurl.com/2ywekz Gold is a lousy investment. In fact, it may be one of the worst investments you could ever make.

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By: Strataman

Strataman — Tue, 04 Mar 2008 05:28:42 +0000

Gold? 204 years to make a buck!

Now, let's look at gold. If you get squeamish at the sight of truly horrific investment returns, now would be a good time to turn away.

If you'd put that same $1 into gold, your investment would have grown to … ready? … $1.95. Without adjusting for inflation, your $1 would be worth a whole $32.84

Over the 204-year period studied, $1 invested in the stock market grew to $755,163,

http://tinyurl.com/2ywekz

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By: incognito

incognito — Mon, 03 Mar 2008 23:24:53 +0000

an anecdotal walk around my neighborhood: MLS®: V690490 -dropped $40k after two weeks on market MLS®: V675745 -on market since last summer MLS®: V689607 -one of 10 listings, in 12 unit duplex complex - on sale since fall MLS®: V689070 -on market most of last year - relisted this year for approximately same price one street has 6 houses for sale and three houses being built