Comments on: Lereah: It’s going to get worse. http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html?utm_source=rss&utm_medium=rss&utm_campaign=lereah-its-going-to-get-worse Bubble? What Bubble? Thu, 24 May 2012 08:06:05 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: DoDo1975 http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17632 DoDo1975 Wed, 07 May 2008 18:47:30 +0000 http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17632 Sorry, above should read doesn't the number that move here matter. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17632">0</span> <small>(to vote for this comment, please visit the site)</small></p> Sorry, above should read doesn't the number that move here matter.

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]]> By: DoDo1975 http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17631 DoDo1975 Wed, 07 May 2008 18:46:46 +0000 http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17631 Stagnate, I don't understand your argument. Does it really matter how many immigrants "prefer" to move to Vancouver? Shouldn't the number matter? Or like with all housing bulls, numbers don't matter? <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17631">0</span> <small>(to vote for this comment, please visit the site)</small></p> Stagnate,

I don't understand your argument. Does it really matter how many immigrants "prefer" to move to Vancouver? Shouldn't the number matter? Or like with all housing bulls, numbers don't matter?

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]]> By: patriotz http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17527 patriotz Wed, 07 May 2008 07:11:52 +0000 http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17527 Re the Edmonton article: <i>Adams: "I think that the number of people who can afford a single-family (house) at the price that we have to charge in Edmonton is greatly reduced because they're just getting expensive.</i> Sorry to break the news to you Mr. Adams, but Mr. Market doesn't care how much "you have to charge" for a house, whether you are developer or a reseller. You get what he feels like giving you. If you would like some evidence for this theory, why not accompany some of your fellow Albertans on one of their property-shopping trips to Phoenix. The other "experts" are just as clueless (or dishonest). <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17527">0</span> <small>(to vote for this comment, please visit the site)</small></p> Re the Edmonton article:

Adams: "I think that the number of people who can afford a single-family (house) at the price that we have to charge in Edmonton is greatly reduced because they're just getting expensive.

Sorry to break the news to you Mr. Adams, but Mr. Market doesn't care how much "you have to charge" for a house, whether you are developer or a reseller. You get what he feels like giving you.

If you would like some evidence for this theory, why not accompany some of your fellow Albertans on one of their property-shopping trips to Phoenix.

The other "experts" are just as clueless (or dishonest).

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]]> By: patriotz http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17526 patriotz Wed, 07 May 2008 06:46:36 +0000 http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17526 <i>How the real estate went from boom to buyer’s market in a blink of an eye</i> Ha. It's not a buyer's market until the buyer is making a smarter decision than the seller, and that's not until prices stop falling. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17526">0</span> <small>(to vote for this comment, please visit the site)</small></p> How the real estate went from boom to buyer’s market in a blink of an eye

Ha. It's not a buyer's market until the buyer is making a smarter decision than the seller, and that's not until prices stop falling.

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]]> By: alexcanuck http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17523 alexcanuck Wed, 07 May 2008 05:59:29 +0000 http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17523 -A- Your figures are WRONG. Add up to only 100% employment. Everyone in Vancouver works at least 2 jobs. Only way to pay their mortgage, even at bankers or realtor salary. LOL <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17523">0</span> <small>(to vote for this comment, please visit the site)</small></p> -A-

Your figures are WRONG. Add up to only 100% employment. Everyone in Vancouver works at least 2 jobs. Only way to pay their mortgage, even at bankers or realtor salary. LOL

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]]> By: -A- http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17522 -A- Wed, 07 May 2008 04:30:42 +0000 http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17522 ; ; ; The Alberta Crash at it's early stages: <a href="http://www.canada.com/edmontonjournal/news/story.html?id=476af5ab-d874-4da3-805f-ec424077f3c9&p=2" rel="nofollow">http://www.canada.com/edmontonjournal/news/story....</a> "How the real estate went from boom to buyer's market in a blink of an eye The experts explain city house prices" Did CMHC forecast this for Alberta? Naturally this can't happen in BC, we have natural resource. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17522">0</span> <small>(to vote for this comment, please visit the site)</small></p> ;

;

;

The Alberta Crash at it's early stages:

http://www.canada.com/edmontonjournal/news/story….

"How the real estate went from boom to buyer's market in a blink of an eye

The experts explain city house prices"

Did CMHC forecast this for Alberta?

Naturally this can't happen in BC, we have natural resource.

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]]> By: patriotz http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17517 patriotz Wed, 07 May 2008 00:58:18 +0000 http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17517 <i>i didn’t say more immigrants come here than ontario, only that this would be the preferred destination for most of them.</i> Immigrants can live anywhere they want, so the preferred destination <b>is where the most immigrants go</b>. Just like the preferred tourist destination for Canadians is where the most of them go, the preferred beer is the one that sells the most, etc. Or do you mean perhaps that they would have preferred to come to Vancouver but they went to Toronto because they can afford to buy a house there but not here. Well that's really bullish for Vancouver RE isn't it. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17517">0</span> <small>(to vote for this comment, please visit the site)</small></p> i didn’t say more immigrants come here than ontario, only that this would be the preferred destination for most of them.

Immigrants can live anywhere they want, so the preferred destination is where the most immigrants go. Just like the preferred tourist destination for Canadians is where the most of them go, the preferred beer is the one that sells the most, etc.

Or do you mean perhaps that they would have preferred to come to Vancouver but they went to Toronto because they can afford to buy a house there but not here. Well that's really bullish for Vancouver RE isn't it.

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]]> By: patriotz http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17516 patriotz Wed, 07 May 2008 00:44:20 +0000 http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17516 <i>Ok patriotz, it’s all going to zero.</i> "All" going to zero? All what? Anyway the BoC rate, whatever it is, is not relevant to RE markets. Retail mortgage rates - which are determined by the bond markets and retail overhead and risk premium - are, and they're not coming down, unless we get into a severe recession, in which case the RE market will be way past the point of saving no matter how low rates go. There was a huge drop in mortgage rates from 82 to 84 and we all know how much good that did for the market. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17516">0</span> <small>(to vote for this comment, please visit the site)</small></p> Ok patriotz, it’s all going to zero.

"All" going to zero? All what?

Anyway the BoC rate, whatever it is, is not relevant to RE markets. Retail mortgage rates – which are determined by the bond markets and retail overhead and risk premium – are, and they're not coming down, unless we get into a severe recession, in which case the RE market will be way past the point of saving no matter how low rates go.

There was a huge drop in mortgage rates from 82 to 84 and we all know how much good that did for the market.

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]]> By: RJB http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17514 RJB Tue, 06 May 2008 23:59:04 +0000 http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17514 -A-, you make some very good points. I would like to add that employers in Vancouver are very generous and like to give big raises every year. Everyone gets at least a ten percent raise every year, so house prices can keep going up up up because our incomes are growing as fast as house prices. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17514">0</span> <small>(to vote for this comment, please visit the site)</small></p> -A-, you make some very good points. I would like to add that employers in Vancouver are very generous and like to give big raises every year. Everyone gets at least a ten percent raise every year, so house prices can keep going up up up because our incomes are growing as fast as house prices.

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]]> By: Anonymous http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17512 Anonymous Tue, 06 May 2008 23:38:09 +0000 http://vancouvercondo.info/2008/05/lereah-its-going-to-get-worse.html#comment-17512 Coco's new blog started up Things you may want to know <a href="http://thingsyoumaywanttoknow.wordpress.com" rel="nofollow">http://thingsyoumaywanttoknow.wordpress.com</a> First topic posted is on real estate. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17512">0</span> <small>(to vote for this comment, please visit the site)</small></p> Coco's new blog started up

Things you may want to know

http://thingsyoumaywanttoknow.wordpress.com

First topic posted is on real estate.

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