Reader comments on ‘15 myths’ story missing.
This weekend the Vancouver Sun ran a story about the top 15 real estate myths and realities which generated a lot of reader feedback. As of last night their website had many comments, the majority of which disagreed with some of the points in that article or the way that it was presented.
Today the comment section looks different. This morning all but two comments had disappeared, with many readers here claiming to have re-submitted comments that have not showed up. I’ve personally submitted a comment that has not yet appeared on their site. Since this morning one additional comment has been posted (congratulations ‘crabman!’).
I’m going to give them the benefit of the doubt and assume that this is a temporary technical problem rather than a concerted effort to censor public feedback and appease real estate advertisers. If they are experiencing technical difficulties I’m sure they would want to keep the conversation going, so please feel free to post your comments here while we wait for them to solve the problem and re-post reader comments on their website.
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April 30th, 2008 at 11:22 am
Giving them the benefit of the doubt here, especially given their track record of spewing RE advertising as “news” is very generous of you Pope.
April 30th, 2008 at 11:35 am
April 30th, 2008 at 11:45 am
April 30th, 2008 at 11:56 am
April 30th, 2008 at 12:00 pm
“Is it really even worth criticizing that article?”
It is ABSOLUTELY worth critisizing the censorship and calling it out. I don’t care about the article itself. If they want to run an article and solicit open comments on their website they should take the good comments with the bad. Certainly their editorial and open letter section does this and I think the online comments should be held to the same standard.
As bloggers and commenters we know there are general rules about off topic, insulting and hateful comments but censorship beyond this gets you flamed big time and with good reason.
April 30th, 2008 at 12:12 pm
http://www.canada.com/vancouve.....actus.html
April 30th, 2008 at 12:13 pm
Here’s the link currently with all comments removed:
http://www.canada.com/vancouve.....amp;k=5982
April 30th, 2008 at 12:16 pm
April 30th, 2008 at 12:21 pm
April 30th, 2008 at 12:29 pm
April 30th, 2008 at 12:31 pm
http://www.canada.com/vancouve.....808399132b
April 30th, 2008 at 12:35 pm
April 30th, 2008 at 12:36 pm
April 30th, 2008 at 12:40 pm
While I don’t agree with the piece, I think people on this site are working themselves into a huff about a very minor issue. The Sun can print as much crappy journalism as it likes.
April 30th, 2008 at 12:47 pm
http://www.canada.com/vancouve.....b6d8791fd8
Robin, this isn’t so much about crappy articles - its about the appearance of removing comments that present an alternate view to the salespeople quoted in the crappy article, even when those comments are polite and on-topic.
April 30th, 2008 at 1:14 pm
I’d wager that the largest single source of revenue for them is RE Adverts, and they’re catering to their client.
Not to worry though, I know a senior person who works for the Sun, they’re losing readership by the truckload. And who knows, maybe after the RE market implodes and we never see another condo ad for the next 5 years, maybe the paper will implode too.
April 30th, 2008 at 1:24 pm
What makes the “15 Myths” article interesting to me is how representative it is of the real estate coverage in the Sun and most of the local media. In short, it’s simplistic and all too willing to overemphasize the benefits of real estate investment while downplaying the risks. This is not unique — corporate media in general have a very difficult time reporting on risk when in a “hot” market. There are many examples in history. When the dot-com boom was on, the media went about it in the same way.
April 30th, 2008 at 1:54 pm
April 30th, 2008 at 2:00 pm
http://www.canada.com/shareit/.....710f343804
April 30th, 2008 at 2:10 pm
April 30th, 2008 at 2:11 pm
And dear God, that article, I just couldn’t believe what I was reading… and the “experts” the article refers to, geez… I cried, I laughed.
One of the most hilarious bits was lower mainlanders being referred to as “incredibly sophisticated” when it comes to RE. If the point of reference for “sophisticated” is sheep, then maybe so. And the expert that delivered that quote? “Jennifer Podmore Russell of the research firm MPC Intelligence.” Google that, if you will, and have a look at that “firms” website. Wow – that’s good for some laughs, too.
Too bad many lower mainlanders may just be too “sophisticated” to get what a joke the article was.
April 30th, 2008 at 2:18 pm
http://vancouvercondo.info/for.....2&t=52
April 30th, 2008 at 2:27 pm
April 30th, 2008 at 2:35 pm
April 30th, 2008 at 2:36 pm
Your list missed one myth: Vancouver prices are high because Vancouver is now a “World Class” city. This is marketing non-sense created by the real estate community. Where are the world-class banking, stock exchange, high-tech, and entertainment industries? And how about world-class salaries to go along with the new world-class status? All non-existent.
April 30th, 2008 at 2:37 pm
On the bright side of things: I am on a mailing list which notifies me of new listings, listing changes..etc in the under 650K in Richmond. For the past several months it has been the usual new listing or two every few days, but today I was delighted to see three very nice price reductions!
April 30th, 2008 at 2:38 pm
Why not have an economist on your panel of experts who doesn’t have a conflict of interest. The Vancouver Sun is contributing to financial ruin of many BC families who have overstreched themselves with unrealisitic mortgage tools (40 year mortgage etc). Over a 100% return on investment in 5 years for every property in Vnacouver - Look at history.
Nikki Sat, Apr 26, 08 at 03:27 PM
This is classic - one of the biggest pieces of real estate propaganda you guys have put together in a long time - real estate blogs are laughing hysterically Asking Cameron Muir his opinion on the real estate market is like asking the tobacco companies if cigarettes cause cancer Good for you guys though -keep the real estate advertising dollars rolling in while you can - journalistic integrity is overrated anyways
April 30th, 2008 at 2:40 pm
The greater fool theory prevails… I remember stock investors buying technology stocks in 1999 were also “extremely sophisticated”… about this “space”. There will soon be a “greatest fool” who buys at the very top.
Mark Sat, Apr 26, 08 at 03:50 PM
What a bafflingly biased report. I’m shocked that the Vancouver Sun is not forced to print “advertisement” on the top of the page containing this information. Among the more humorous contentious points is that they don’t even answer whether 3 out of the 15 “myths or realities” are either a myth of reality. It is unfortunate that more people don’t know how to read graphs to interpret data. This report is nothing more than a promotional pamphlet for the realty industry. I’m counting the days until the Vancouver Sun runs as its headline “Vancouver Housing Market Crashes, House Prices Fall” Cheers, I’m looking forward to buying your foreclosed property.
BBC Sat, Apr 26, 08 at 05:20 PM
Economies run in cycles, there will and is going to be an adjustment in the Real Estate market. Of course individuals and companies that invest or have a vested interest in real estate are NOT going to say other….duh. Take a look at the MLS….the change is happening as we speak. With regards to Canada, BC and Alberta will feel the effects of the US eco. / Global eco. last and it won’t be as sever as eastern Canada but don’t be fooled……we will feel it. A correction is much need for our economy to reach a balance.
April 30th, 2008 at 2:41 pm
What a terribly biased piece of reporting. The SUN should be ashamed to print useless reports like this. Where are all the non-biased interviews and opinions? Oh wait, I understand now… I just had to scroll down a bit further to see the giant add for Wall center False Creek. I guess we know who paid for this one.
RJ Sat, Apr 26, 08 at 08:13 PM
Some of these comments are a bit harsh. I do think more articles should be done giving advice to first time home buyers in this crazy market. I got into it just as it started in the condo market. I just about doubled my money in five years. I am not sure how first timers are going to be able to ride the wave.
Re-diculous Sat, Apr 26, 08 at 08:15 PM
Vancouver Sun, you’ve sold any journalistic integrity yo had to the highest bidder, the local real estate industry. You’ve become their mouthpiece to defeat any notion of possible lower prices, because once that notion tkes hold, it becomes a self fulfilling prophecy - shame on you!
April 30th, 2008 at 2:42 pm
Wait until a recession hits officially in the US; then buy. Buying now will lead to one thing… negative equity!
Whiners Sat, Apr 26, 08 at 09:27 PM
Every time a real esate related column is published the forum posts are full of people whining about the market. Complaining the city is no good, the prices are inflated, and people are stupid to buy. These armchair quarterbacks will be renting forever and if they don’t like it here move away. Keep on waiting for prices to drop and the sky to fall.
Liberace Sat, Apr 26, 08 at 10:02 PM
Wow. I was unaware that real estate agents/mortgage brokers had such a huge share of stock in the Vancouver Sun Company. Anyhow….keep the nonsensical dribble coming and expect a 30-50% reduction in real estate prices in Greater Vancouver over the next three to five years. Condos will be hardest hit.
April 30th, 2008 at 2:43 pm
None of these commenters has had any factual information to add, just a lot of hysteria over the general sentiment that the sky is about to fall. Well, the Sun article showed us the basic facts from the the property information records. All else is speculation. Kudos to the Sun for cutting through the vested interests and bringing us the real goods.
John Gee Sun, Apr 27, 08 at 06:56 AM
Fools. Perception is reality. Got it. Line up, buy up, but don’t tell a soul you want to get out until you are.
Oz Sun, Apr 27, 08 at 12:03 PM
You know, I honestly think it’s a good time to take your profits and go rent for a few years while prices shift downwards, but at the same time, I applaud the Sun for actually publishing the comments of all these Chicken Little types who think making money in real estate is somehow evil, and that telling people how makes the Sun a mouthpiece for realtors. Seriously, anyone who didn’t see these high prices coming three years ago, or saw them coming but didn’t move heaven and earth to take advantage of them, is the real fool. I sold everything I owned to raise enough to put down a tiny deposit on a tiny bachelor suite in a crappy part of town - and it only took two years to turn that into a 4BR townhouse in the burbs for no raise in my mortgage. So I’m a fool? Hell no - if prices drop, I’m still well ahead of the game - unlike those ‘noble’ people who didn’t plan ahead, kept renting, and now groan at The Sun for offering them advice on how to move up.
April 30th, 2008 at 2:44 pm
And what if you who commented negatively about the information in the article are wrong? Someone did research which carries more weight than speculation. Are you so angry because you are not in the market?
Jonah Sun, Apr 27, 08 at 12:07 PM
I think this article has real value. I just think maybe the sun needs to consider for the future that using ‘research’ from someone with a vested interest in an up market, might not be the kind of look they’re going for if they want to be perceived as unbiased. for what its worth, I don’t think the article is wrong. I think prices will keep going up. It happened in sydney before the last olympics - and afterwards too. Just don’t overextend yourselves trying to get your piece, is the best advice of all.
Ed Sun, Apr 27, 08 at 12:45 PM
There is better analysis being done for free on the local real estate market by a little known financial planner who happens to agree with many of the “hysterical” commenters here. Lo and behold he has data to back up his arguments too. The Sun would do well to get a clue from an unbias source like him. Google - langley financial planning blog uberpost - to see what I mean.
April 30th, 2008 at 2:45 pm
An assessment of the local real estate scene that fails to mention that inventory is about 25% higher than last year and sales are down is sort of like an article about Iraq that fails to mention that there’s a war going on there. Well, not that bad, but it does make you wonder, as the above posts do, what side the Sun’s bread is buttered on. A rising real estate market is good for no one except realtors and people who move away.
BBC Sun, Apr 27, 08 at 08:05 PM
Whiner wrote: Every time a real esate related column is published the forum posts are full of people whining about the market. Complaining the city is no good, the prices are inflated, and people are stupid to buy. These armchair quarterbacks will be renting forever and if they don’t like it here move away. Keep on waiting for prices to drop and the sky to fall. Who is whining? I feel that the general thread of the comments opposing the article are asking for a more unbiased source of information. It is irresponsible of The Sun to publish something that is soooo bias. I am an owner of a 1.5 million dollar property in Vancouver and am concerned about the over valuation. Sure on paper I look like a millionaire but that is only if I sell my ‘pot of gold’…in the meantime I am paying out the *as in property taxes for a over valued piece of property. The economic climate is shifting and there is no unbias information that deals with that very real aspect of Real Estate. The sky isn’t falling but it would be refreshing to get an accurate and unbiased weather forecast for once!!!!!
3 steps… Mon, Apr 28, 08 at 02:50 AM
Step 1 - Fire the moronic author of this article. Step 2 - Fire the editor for allowing such conflict of interest “journalistic” hype to be published week after week. Step 3 - Get it through your thick heads, Real estate agents are NOT unbiased “experts”.
April 30th, 2008 at 2:47 pm
I don’t like to throw around accusations of bias because it begs the question of what would constitute “objective” reporting. It doesn’t make things easier that Vancouver real estate is second only to religion as one of those topics in which all sides claim to know the “real” truth. What frustrates me about the Sun coverage is how unwilling it is to acknowledge the uncertainties in the market and the level of risk involved in buying in. Reading these articles, real estate always comes across as a can’t-lose proposition available to everyone. Yeah, everyone except those unable to spare 80% of their income to own a home. Even the most bullish investor will tell you that there is risk in this market.
Elton Mon, Apr 28, 08 at 04:20 AM
The funniest part of the article has to be this part: “…Generally though, British Columbians, and Lower Mainlanders in particular, are pretty savvy about their property, the experts believe, with so much information out there about real estate, between Real Estate Weekly, the real-estate sections in newspapers, the realtors’ Multiple Listing Service posted online and Home and Garden TV….” Reading the hype in the New Homes section of the Vancouver Sun makes you real estate savvy! Good thing I have a subscription. Everyone has access to the Real Estate Board’s MLS service so that means we are all experts. I feel better now.
History Will Tell Mon, Apr 28, 08 at 05:15 AM
Keep the reference to this piece handy. Something tells me it will be worth some serious chuckles in the next few years. Like the ‘Fence Sitters Will be Sorry piece’ {http://www.voiceofsandiego.org/articles/2008/04/09/toscano/820theywillbesorry040908.txt) from the Voice of San Diego. Do these people not realize this stuff is now ‘on the record’!?
April 30th, 2008 at 2:48 pm
Just want to add my voice to the outcry against this false journalism. Its now obvious who the Vancouver Sun works for. Thanks.
BridgeSeller Mon, Apr 28, 08 at 11:30 AM
It would be hard to imagine a more biased article on RE, seriously. Lazy, irresponsible writing. As for people who think that asking Cameron Muir for his “expert” opinion equals doing research - please, check the source. That’s like asking Bush how the war in Iraq is going - hey, he’s President, he’s just gotta be right! Now, if I was to look at the article as a glass half full, I guess I’d have to say thanks for the laughs… especially the bit about Lower Mainlanders being real estate savvy. That was pure gold!
frank Mon, Apr 28, 08 at 12:06 PM
Your article was an insult to the intelligence of your readers, Truly disgusting.
April 30th, 2008 at 2:49 pm
Vancouver may still abide by this article, but in the Fraser Valley, the situation is bleak. Compared to just last year, we have a 37% drop in sales, and more than 85% more listings to choose from compared to two years ago while the market was rising. FVREB has chosen to no longer publish the MLS statistical archives prior to September 2007. This will maintain a more normal outlook for those researching the Fraser Valley market going forward into the decline. Source: http://www.fvreb.bc.ca/statistical-archives.php
Rock Mon, Apr 28, 08 at 12:33 PM
I cannot believe the lack of journalistic integrity here. Inventory levels in Vancouver have risen by over 25% to unprecedented levels. Sales are down 5-15% depending on where you look. There is an unprecedented number of buyers who are taking out 40-year mortgages. Prices have already flattened all over the Fraser Valley. Condo projects have stalled and banks are demanding more money down for existing project, all the while starts continue to be absurdly high. Canadian financial institutions have turned off the money pipe. Canada is on the brink of a recession. The world is in a credit crisis and we’ve entered an enormous deleveraging phase. Not to mention rampant inflation. And you wonder why people don’t want rising prices? You think Real Estate will go up the next two years? I’ll bet any money it wont. Perhaps the Sun should consider that, if prices do continue to rise forever, more and more bright young people will leave for more sane ground. The economy here will eventually be crushed (there is nothing here save Real Estate), and the longer this goes on, the worse it will be.
April 30th, 2008 at 2:50 pm
Regarding: “[Lower Mainlanders] are pretty savvy about their property, the experts believe, with so much information out there about real estate … the real-estate sections in newspapers…” How about during previous cycles? Was The Sun a source for unbiased real estate information before the 1981 crash??? “Price stability, rather than decline, would be expected for most of the housing stock . . . since underlying home ownership demand remains strong due to continued high immigration.” (Frank Clayton, January 18th 1981 in the Sun.) The market crashed by about 50% over the following year. How many people had to walk away from their houses becasue they belived what they’d read in the newspaper?
hughz Mon, Apr 28, 08 at 12:57 PM
Rather than talk to “economists” from BCREA, why didn’t they consult any of the economics or finance profs at SFU and UBC? I wonder how many of them have bought into the BC real estate market recently…
JoJO Mon, Apr 28, 08 at 01:04 PM
Driving to work this morning… up Hudsons Street… I noticed 10 houses for sale between 57th and 47th avenue!! People are stupid if they think these prices are going to last… the market is crashing. Detached houses are moving very slowly!
April 30th, 2008 at 2:51 pm
Myth 16: Real estate prices are still rising in Greater Vancouver. FALSE! - just wait for April’s MLS stats to come out…. so far average detached prices and median homes prices are down nearly 3% this month. Average price is currently back under $899,000!
JojO Mon, Apr 28, 08 at 01:18 PM
Just something to ponder. Did anyone read that article about the Aquilini groups proposal to build a 23 story commercial tower in Downtown Vancouver?Apparently, the aquilini group had to pull the plug on the idea, as there was no commercial interest in the building… interesting… **Wasn’t there an article in the Vancouver sun a few months ago saying that the commercial vacancy in the downtown core was at an all time low? Now, how can the proposal for a 23 story commercial tower dissolve if we have such low vacancy rates?? The article a few months ago made it seem as if businesses are clammering for new space. Who is telling the truth here? If vacancy rates are so low, shouldn’t we be building more commercial space?
Scott Mon, Apr 28, 08 at 01:19 PM
The story does read more like an advertisement. 1. Buy before Albertans beat you to it. 2. Your home is worth more than assessment. 3. Real estate always goes up. 4. Buy your home now because it is spring. 5. If you are going to sell renovate first. 6. You don’t need a swimming pool to sell. 7. ? This can’t be right!?! 8. All houses appreciate equally. 9. People don’t ‘flip’ condos. 10. Buying a money pit is a good thing. 11. Location doesn’t matter. 12. If you already own buy more. 13. Make sure you use an agent. 14. Don’t worry about the bank. 15. If your not rich you will be!
April 30th, 2008 at 2:52 pm
Condohype said: “What frustrates me about the Sun coverage is how unwilling it is to acknowledge the uncertainties in the market ” The uncertainties exist in your mind. Go back to reading your negative blogs. “…and the level of risk involved in buying in. ” No risk, no reward.
Kevin Mon, Apr 28, 08 at 02:17 PM
The Sun forgot to address the important factors that mean the market Is only going to keep up: - The Olympics - Everybody wants to move here - We’re running out lof land - Buy now or be priced out forever - Rich foreign investors - This time it’s different Everybody please ignore the past 30 years of Vancouver real estate history, and the Sun’s/CMHC’s/Realtors well documented abysmal prognostications printed before each previous downturn. My realtor told me that this is a new paradigm and we’ve now reached a permanently high plateau where financial valuation metrics are meaningless. Now if you would please excuse me;I must now head down to my realtor’s office with my 40-year mortgage to cash in on my real estate lottery ticket!
hughz Mon, Apr 28, 08 at 02:25 PM
CAL said: “The uncertainties exist in your mind. Go back to reading your negative blogs. “…and the level of risk involved in buying in. ” No risk, no reward.” No risk = no reward is the kind of truism the RE industry pumps out on a daily basis in Vancouver…the point is that RE at the moment most likely entails more risk than other assets with similar returns.
April 30th, 2008 at 2:53 pm
Why didn’t the Vancouver Sun put this graph in: http://www.nvcondos.realpagema.....aPageId=32 Inventory is taking off kike a rocket like never before and sales are falling. This data is straight from the real estate board.Given what is happening in our own market and the U.S., the market is slowing down quickly. At least that is what my realtor is telling me when I ask him why my house has not old yet.
Tom Mon, Apr 28, 08 at 03:34 PM
What cracks me up is at the foot of this article, below the comments is a Google ad titled “BC Foreclosure Listings”. Expect to see a lot more of these in the next couple of years! As for the graphs each spike has a downturn immediately afterwards. We are currently at the top of the spike. The prices won’t go to 10 years ago prices, but they will stop rising so fast and will then adjust to a more sustainable level. Buy now and you risk negative equity, apart from the fact that is a 500 sq ft condo you’ll grow out of within a couple of years really worth $350,000? The other fantastically bad bit in this article was that you should charge rent at a 10th of your property price. With ave condos at around $400,000 does that mean renters should pay $4000 a month!! Way to destroy a city and drive out the people who keep it running.
April 30th, 2008 at 2:54 pm
I’m in agreement with almost all of the criticism from the RE realists above. There are so many points to make about this article it’d require a two page-spread retort. Here’s a sample: The article states: “12. Buying an additional property to rent out is a solid investment” and judges this to be a “Reality”. It then points out that “The rule of thumb used to be that you would aim to charge a rent that was one per cent of the purchase price ($1,000 a month for a $100,000 condo, for example). ” SO, why does the article not then go on to point out that the current ratio for Vancouver, instead of 100:1 is between 300:1 and 500:1 ? Perhaps because this would lead to people concluding the truth, namely that property prices in Vancouver are more than THREE TIMES what they should be based on historic norms. There is a crash coming, and The Sun can be blamed for keeping its readers woefully uneducated in this regard.
Karl Mon, Apr 28, 08 at 04:33 PM
You cant win if you dont play
monique Mon, Apr 28, 08 at 05:31 PM
Can anyone give me some price figures of a good condo (close to UBC). I live in Europe and have no idea of your market, but I intend to buy or to rent close to UBC, something nice, modern, etc…What are the best zones in VANCOUVER?
April 30th, 2008 at 2:56 pm
I am selling a condo because I am getting transferred. When giving the listing out, my realtor tried to low ball me for a fast sale. I priced it competitively and less than recent sales on a lower floor. To date I have no offers and only excuses from my realtor that the market is slowing, that it is changing, there are more listings and that I need to reduce the price. I’ve paid property taxes, strata fees, mortgage payments and I have to pay a realtors commission so I don’t want to lose money on this purchase. I feel like I live in a different city than what was described in the article because people are not lining up to buy my place. The realtor tells me that it is too expensive for an owner user and investors want presales where they don’t have to pay for the condo for 3 years. Anyone have relatives in Alberta that want a downtown condo?
WatchingtheFarcePlayOut Tue, Apr 29, 08 at 01:12 AM
Monique, don’t buy. Real Estate in Vancouver is seriously overpriced relative to average income, relative to median income, relative to possible return on investment, relative to basic long range satisfactoriness of living conditions. The creative and genuinely innovative types who contribute most to making the city enjoyable to live in are leaving because they can’t afford to live here, having started to feel the pressure of rents inching up (though rents are still way way below what would secure a rational landlord a reasonable return on investment). Those who bought a few years ago are selling with greedy stars in their eyes at the thought of how much $ they might get. The media and government have supported the moguls thus far, but it is all about to come crashing down.
April 30th, 2008 at 2:56 pm
Actually Jonah, prices in Utah and Sydney crashed after the olympics. In the Syndey suburbs they are seeing the median house price drop from between $100- to $450 per week since 2004! http://vancouvercondo.info/200.....ydney.html Try doing some research before assuming gains will continue, listening to salespeople is probably not the most objective source of information.
Billy Tue, Apr 29, 08 at 11:09 AM
To the Editors of the Sun: Are you picking up the general tone of the comments here? Your article was so poor, so lacking in balance, analysis or credible information that you should be embarrassed. People read your paper for information. With the miracle of the internets (check it out sometime!) people get their information from a variety of sources. There are a bajillion web sites dealing with real estate, how to value it, how to invest in it, how real estate markets have behaved over time. Web sites about economics, finance, investing etc. etc. Many, many people have become pretty well informed about these issues, and have some pretty well informed views of local real estate. Then they open the paper and get platitudinous pap that doesn’t even scratch the surface of the issue, is actually misleading or provides a platform for developers to move product. My personal opinion is that real estate is hugely overpriced here and long overdue for a sizable correction. I have done a fair bit of analysis and research on this, though I am certainly no Cam Muir, so what to I know, right? It appears many others have come to the same opinion. Where was that view, which now seems pretty common, in your article? What about mentioning the 4 or 5 local real estate blogs? What about mentioning Garth Turner’s book? What about the collapse in the states (12% decline nationally yoy, so far) and most other markets? What about simply sitting down and crunching through some numbers? You treated your readership like a bunch of dummies. No wonder you are getting the comments you are. Shame on you.
April 30th, 2008 at 2:58 pm
You need to interview the guy at Langley Financial Planning. He calls a spade a spade and has the capacity to carry out a substantiative analysis. I shake my head when I see the “experts” paraded out in this piece. Mind-boggling.
joebubba Tue, Apr 29, 08 at 12:36 PM
Free your mind from this garbage and cancel your Sun subscription, someone with some ethics will fill the void for truthful journalism…
Adrian Tue, Apr 29, 08 at 01:18 PM
To the writers of that piece, were the prices quoted by Landcor inflation adjusted? I couldn’t tell if they were and wouldn’t be surprised if it wasn’t just to keep the hype machine going.
Winston Tue, Apr 29, 08 at 01:55 PM
When I turn down your telemarketers next time they call me asking to sign up for a subscription I will specifically mention this article as part of the reason.
April 30th, 2008 at 2:59 pm
While there are truths in this article, this piece lacks integrity. In fact, most real estate articles in The Sun feel like they are commissioned by a Realtor Near You. What ever happened to journalistic integrity? Like other readers, I also recieve listings for 2 br downtown vancouver condos from 500K-700K, and nearly all listings within the past 3 months have been “price reduced.” Even our vetran realtor (he is not so earger to admit this) has gone from 50 clients (last summer) to 10. It is very obvious to me there is a lot less demand locally and internationall in the Vancouver condo market.
Holding$$$Renting Tue, Apr 29, 08 at 06:53 PM
Don’t listen to the nay sayers, their just jealous that they have missed out on the run up in prices. Don’t worry if you can’t afford it, the banks don’t force you to prove your income anymore, and you can get one of those great new 40 year ammortizations for 103% of the mortgage to cover the closing costs and down payment. Take on as much debt as you can or you might miss out, this time it’s different. I know what you’re saying, that’s crazy, I won’t have any money leftover to enjoy life and I’ll be paying for the house well into my retirement. Don’t worry about it, you can take out a line of credit on your huose, a HELOC. All the banks have got them. That way you can get your granite counters and stainless steel appliances. What are you worried about, it’s not like there’s going to be a downturn, everyone knows that real estate only goes up and those problems in the states are all because of sub prime mortgages, which we don’t have. BUY BUY BUY!
April 30th, 2008 at 3:00 pm
I fell for the hype in October of 07. Bought a presale in South Surrey, in less than six months the developer has cut the price, offered free upgrades and still has sluggish sales. My 15% deposit will go down the drain, as a matter of fact my loss is 1/2 way there now. Thankfully I am not a first time buyer, but it still hurts. The Sun and other mainstream papers should be thoroughly ashamed for these biased pro developer articles that may influence more saps like me to a bad decision. They would be better served with articles of the real estate carnage throughout the rest of the world and what we we can expect here shortly, but alas the readers don’t account for half of their revenue, so forget that.Talk about free advertising!
April 30th, 2008 at 3:03 pm
I did see four responses at around noon today that I no longer have on my screen to share with everyone. I also don’t know how many comments were made last night after 7:30. so anyone with print-outs scan and share them.
April 30th, 2008 at 3:20 pm
http://www.canada.com/vancouve.....lities.pdf
April 30th, 2008 at 3:25 pm
The issue is not online yet, But I think we should all go out and buy the issue to show our support to people who are standing up to big media.
http://www.adbusters.org/the_magazine/
this is someones blog about it
http://www.torontolife.com/blo.....s-canwest/
April 30th, 2008 at 3:28 pm
April 30th, 2008 at 3:37 pm
And we have every right to call them out on a shotty piece of journalism. If they want to pick and choose their comments they better be open and transparent about it. The Sun’s online editors are running into a whole new world and it’s comical and sad to see how hamfisted and clumsy they are at handling it.
When you actually read the comments some of them are opinioned without arguments and some are accusing the Sun of bias and corruption. I can see, from the editor’s point of view, why having these stay on the site was questionable, compared to their usual techique of more carefully screening reader comments about the paper copy before posting.
Really they need a better explanation of what it takes to get posted. As long as the rules are clear and followed, Dosh is right: they can do what they want. But what has separated the comments and opinions section of the paper is its ability to be self-critical. If they can’t handle it maybe they should look in the mirror and look a bit harder for some experts that have opposing views. Ultimately if what they choose to post as editorial/opinion is not representative of the comments, they will have problems.
April 30th, 2008 at 3:39 pm
April 30th, 2008 at 3:45 pm
April 30th, 2008 at 4:01 pm
.
The outrage against the Suns attempt to hide the comments will surpass the reaction to the article itself, and rightly so.
They can only wiggle out of this if we let them.
April 30th, 2008 at 4:03 pm
.
.
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And the nominees for the REAL ESTATE PIMP OF THE YEAR AWARD are:
Bill Good
The Vancouver Sun
The Province
Bill Good
Bill Good
Bill Good
Bill Good
Btw Mr. Pope, can we have a poll for second place,
I would like to nominate:
Pastrick
April 30th, 2008 at 4:04 pm
satv/krrish
April 30th, 2008 at 4:07 pm
April 30th, 2008 at 4:08 pm
Thanks for your hard work but I think the sun did really very good job by deleting those comments because most of the posters are SOLD OUT OWNERS who like to push the market with un natural force.Thanks to the sun they have saved the public from wasting penalty of time reading all that.why protest home prices while it is necessity?here i got a list of stuff that is up three times in a decade,3t=three times.
GOLD PRICES ARE UP 3t
ENERGY PRICES ARE UP 3t
FUEL PRICES ARE UP 3t
RATES OF PAY FOR LOTS OF PEOPLE ARE UP 3t
GROCERY PRICES ARE UP 3t
HOUSING PRICES ARE UP 3t
why do we generate attacks on housing prices? why other things are left out in the hands of market’s driving forces?so does the housing sector.I think bears are doing very good in other markets while they are trailing in housing field
April 30th, 2008 at 4:19 pm
Both the Globe&Mail and National Post (another Canwest paper) have had some bearish articles/columns.
April 30th, 2008 at 4:20 pm
LMAO!