Comments on: March 2008 – Listings surge, prices moderate

By: Deliverator

Deliverator — Sat, 12 Apr 2008 14:19:07 +0000

Strange how some people think everyone needs to speculate on houses, rather than just live in them. If people would simply buy houses and apartments using good simple rental/ownership comparisons instead of doing it because "it is a good investment" (in other words, speculating on your home), this bubble wouldn't exist in the first place.

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By: “He stared at me like I was one of those weirdos” « Vancouver Real Estate Anecdote Archive

Thu, 10 Apr 2008 19:28:57 +0000

[...] 10 April 2008 · No Comments This from pricedoutfornow at vancouvercondo.info 2008-04-08 19:11:57 [...]

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By: rx

rx — Wed, 09 Apr 2008 14:54:31 +0000

Good timing empty pockets! Can I ask you why you sold now? Are you no longer bullish on Vancouver real estate? Do you feel your profit came from planning or luck or a combination? Where are you going to be putting that money to work now? Sorry if its too many questions I'm just curious, I agree that some people are overly cranky, but not everyone here is.

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By: Empty pockets

Empty pockets — Wed, 09 Apr 2008 14:31:34 +0000

*l* I guess I'm stupid for rather having bought 3yrs ago cashed out with a good 100-200K in pocket then having spent the last 3yrs telling people the sky will fall. If when prices are falling is the best time to buy I guess some of you here are busy buying up US real estate then... Somehow I think a bear will be a bear. Psst you'd have better discussions on here if you were nicer to the bulls.

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By: DaMann

DaMann — Wed, 09 Apr 2008 10:46:49 +0000

On another board someone mentioned one of the Vancouver city alderman ( cadman?) stated that BC hydro says there are 18,000 vacant condos in Vancovuer alone. 18,000. Bloody hell that is insane. This could end worse than I thought.

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By: Warren

Warren — Wed, 09 Apr 2008 08:58:08 +0000

CKNW is talking Real Estate this morning with Bill Good. They know something we all don't: 4.5% increases in RE for the next 10 years.

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By: ex-vancouverite

ex-vancouverite — Wed, 09 Apr 2008 07:55:04 +0000

. That means you were only wrong for 3yrs. Wouldn’t you be even more satisfied if you had brought 3yrs ago and sold yesterday? If I were you I know I would be. Strange how some people are easily satisfied. That scenario only works if you don't want a home to actually live in. I'd like a place to stay in for many, many years; not sell-out in a short timespan. You know, that antiquated idea of being a part of one's community. Strange how some people think everyone needs to speculate on houses, rather than just live in them.

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By: richard

richard — Wed, 09 Apr 2008 07:46:25 +0000

40 year mortgage hazards

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By: dingus

dingus — Wed, 09 Apr 2008 07:22:51 +0000

I think that's a good point, patriotz. We seem to have developed this meme around what's happening in the States as a "subprime" problem. And then we take pains to say there is no "subprime" problem here (though I kinda think there has been a lot of stretching the truth on mortgage applications -- downpayments via credit card, "gifts" from family that are being paid back, overstating income, longer term mortgages, high ratio mortgages., reliance on increasing debt to offset unaffordable mortgage payments -- in effect a neg/am situation, etc). Anyway, it allows us to say that there is no problem that the affordability wall has been hit, that future demand has been sapped, that rates aren't going to give a break to new buyers, that we are heading into probably prolonged "softness" in the economy (which always comes as a "surprise" to the talking heads, doesn't it) etc etc etc., all of which adds up to a pretty bearish long term outlook for housing. Banks haven't been offering 500k neg am mortgages to busboys, so all is good. There problem is other people, not us.

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By: Tony Danza

Tony Danza — Wed, 09 Apr 2008 07:18:57 +0000

That means you were only wrong for 3yrs. Wouldn’t you be even more satisfied if you had brought 3yrs ago and sold yesterday? If I were you I know I would be. Strange how some people are easily satisfied. Yeah, and wouldn't you be more satisfied if you had only picked the winning numbers for Saturday's lottery? Statements like the one from "empty pockets" show how ignorant the general population is concerning investments and personal finance. The crap thing is responsible individuals end up paying for these morons' stupidity through public bailouts and higher taxes. Hey empty pockets if it's so easy to predict exactly when an event will take place how about a prediction from you? F*cktard.

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