Comments on: Friday Free-for-all!

By: mouse

mouse — Tue, 01 Jul 2008 08:42:11 +0000

Why bother reading this thums up2? Isnt it a waste of time? Originally I could not understand, english too poor. Then I could not understand, does not make sense. But do keep revealing the new aliases, so I can save time.

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By: Anonymous

Anonymous — Tue, 01 Jul 2008 08:39:30 +0000

"Sellers holding out for inflated prices have not been able to keep the bubble from bursting in the past, nor can they keep prices from crashing this time around, as evidenced by the current bubble markets in the US, UK, Spain, and other parts of the world." I think this formerly white hot real estate market in Vancouver is end very ugly. It's funny I don't much comments about how the rich foreignors or the Olympics are going to keep this market up. We're getting closer to 2010 each day; yet listings continue to increase, sales declining, inventory is building and many new listings are being priced sharply to undercut competing properties. But that's my opinion.

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By: TP

TP — Tue, 01 Jul 2008 05:06:13 +0000

London: Insane isn't it? In fact, as with previous crashes, the stubborn sellers are what create a glut of listings which eventually lead to an overcorrection. In Vancouver this is exactly what is happening. We have record high listings with record high starts, and sales are on the decline. Sellers holding out for inflated prices have not been able to keep the bubble from bursting in the past, nor can they keep prices from crashing this time around, as evidenced by the current bubble markets in the US, UK, Spain, and other parts of the world.

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By: Londonernow

Londonernow — Tue, 01 Jul 2008 04:32:01 +0000

This idea that if seller's don't get asking prices they just won't sell is a dream. It works for a very short while until reality resurfaces as forced sellers come in. The banks tried that initially last year (just not pricing assets at market) and you can see how well that worked out for them.

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By: patriotz

patriotz — Mon, 30 Jun 2008 22:14:40 +0000

From the above; Figures out last week showed that faced with soaring household bills and petrol prices, Britons were already almost running on empty, saving less of their income than at any time in the last 50 years. Substitute "British Columbians" for "Britons", and it's just as true. But still nobody here (in the public eye, anyway) is willing to point out that the emperor has no clothes.

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By: Re-diculous

Re-diculous — Mon, 30 Jun 2008 19:20:26 +0000

Just in case we needed more evidence that RE is falling in other parts of the world….

Crash worries grow over U.K. housing market
http://www.reportonbusiness.com/servlet/story/RTG…

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By: patriotz

patriotz — Mon, 30 Jun 2008 18:41:32 +0000

“All remaining homes come with a free car!” Gee, where have I seen that sales tactic before? It different from the US here folks. Because the "experts" say so.

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By: -A-

-A- — Mon, 30 Jun 2008 14:48:47 +0000

RobKrisshKrassh and Aaron: I hope you haven’t abdicated your professional obligation to your prospects and not have informed them of what a great opportunity they may be missing if they don’t jump in now during this brief lull. The market is about to get white hot again, I have done some basic research and discovered that According to Statistics Canada’s latest measure of the total number of households in Canada is 12.4 million. Therefore, given that the population of the country is 33 million, the average household must be comprised of about 2.7 individuals. Since the rate of population growth is 3% per year, the base number of new homes that is required is 375,000 units per year. However in the last few years housing starts have been around 125,000 and therefore we have a housing deficit. You should grab a few of those listings yourselves, before we run out listings, and prices start to escalate at warp speed again.

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By: Vansanity

Vansanity — Mon, 30 Jun 2008 14:15:52 +0000

PW - I called the realtor, the car is a Kia, whoopee!! or $10,000. She didn't seem really interested in giving any details of the place or the car. 11 units left had to pry it out of her. Jesse - Thanks for the Landcor report! Finally some hard factual data on foreign investors.

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By: jesse

jesse — Mon, 30 Jun 2008 13:30:05 +0000

TraderP, you can look at the report (PDF) from Landcor to see how many non-Canadian buyers are in the market (page 22 of 26 gives the actual numbers). There are very few international buyers in the market and they are not increasing in numbers or total spend year-over-year. If you're at a party and someone brings up "foreign investors" you can tell them: 1) Only 5% of the total sales are from buyers outside of BC 2) Only 1% of the total sales are from buyers outside of Canada

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