Friday free-for-all!
The world is going through some interesting times: a hangover from the boom of loose credit, house prices dropping in many cities, inflationary pressures and skyrocketing energy prices. This is our open-topic weekend post to discuss anything related to economics and real estate on the global and local level. Here are a few stories I’ve noticed this week:
- June 2008: Vancouver house prices drop slightly.
- Real estate inventory continues to grow
- Screen Actors Guild strike threat looms.
- Kevin Falcon cares about your convenience
- Victoria: love the weather, not the street people
- Americans move to Canada (less than vice-versa)
- Canadians work more for less
- Canadians no longer spending like ‘drunken sailors‘
- Loonie predicted to drop
- Canada from a Hawaiian perspective
- Will gas prices kill the suburbs?
So what are you seeing out there? Post your news, links and anecdotes here and have an excellent weekend!
note: any conversation on real estate or economics is allowed, please keep it civilized. when posting articles please only quote pertinent points and link to the original instead of pasting the entire article here. Pasting a link will automatically create a clickable hot-link. Thanks!
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July 7th, 2008 at 10:33 pm
Australian housing braces for further pain
July 7th, 2008 at 1:36 pm
according to Credit Union Central B.C.’s latest weekly economic briefing. “The long-awaited and much-anticipated price cycle peak probably occurred in February.”
I love how guys like Pastrick go from perpetual appreciation machine to “long anticipated price cycle peak” without admitting that he was wrong.
Lereah did it too. Gave us bogus sunshine reports and then reported that prices dropped just as he had anticipated.
Rob Chipman now claims that he has anticipated a 20-40% drop. All he has ever said are cliches such as “buy when the numbers work” and the “cure for high prices is high prices”. Now that the sh*t storm has finally arrived, he retroactively repositions himself. What a joke.
Asshat Gary Watts from the States finally admitted that he was wrong, but blamed it entirely on Wall Street shenanigans.
It is really twisted how all the usual suspects try to reposition themselves to not only escape culpability, but to paint themselves as prophets. Sick I tell you.
July 7th, 2008 at 11:57 am
“Building permits in Canada up 1.1%. Housing permits dropped, commercial gained and made up for the housing short-coming. ”
Once again *exactly* tracking what happened in the US market.
July 7th, 2008 at 11:36 am
Nice post Re-diculous.
A lot of news on the recession this morning. CNN had a piece on recession proofing your assets ie. savings account.
Building permits in Canada up 1.1%. Housing permits dropped, commercial gained and made up for the housing short-coming.
Consumer confidence at all time low.
BC Housing starting to fall: “Price declines in Vancouver and the Fraser Valley look to continue in the near term,” according to Credit Union Central B.C.’s latest weekly economic briefing. “The long-awaited and much-anticipated price cycle peak probably occurred in February.”
TSX continues to fall today. Dollar is down on oil retreat.
BOC set the tone for higher interest rates. Likely they won’t raise them next week but they are worried about inflation and it’s only a matter of time until the rates start climbing.
It’s going to be the “Perfect Storm”. Batten down the hatches and hold on tight!
July 7th, 2008 at 11:25 am
For all those in denial…this is for you
B.C. Records Biggest Drop in Consumer Confidence
http://www.canada.com/vancouve.....17d09ac2ec
July 7th, 2008 at 10:17 am
Usually they’re insecure with good reason
Often they can be recognized by the rusty Camaro (if Asian, make that rusty Civic with 3″ chrome tailpipe) that they tend to tailgate you in.
July 7th, 2008 at 10:00 am
Why do you bring “oxy” into it?
Matt has nothing of value to add. His only topic of conversation is how much smarter he is than everyone else around him. In my experience people who need to brag about their mental prowess to that degree are very insecure about their intelligence. Usually they’re insecure with good reason.
July 7th, 2008 at 8:55 am
Matt Says: “I think bears on this blog …”
Example of an oxymoron: the phrase “Matt thinks”.
July 7th, 2008 at 7:38 am
Matt, what geographical region gets to claim you as its paragon of enlightenment?
July 7th, 2008 at 6:24 am
Rob A,
Matt has long way to go because he has just sold his house then he has become desperate to re-enter quickly as he can so he has chose his suitable plate form called cry but after january 2009 he will change his plate form from cry to screaming.
Did you notice on 5k disscount they had start talking about recession,inflation,stagflation,and job loss but those are the least form on ending stages so you can see loser begin with final spin which already ended in march 2008 you can say lmao again!!!
Between INFORMERSOURCE1.said our blogger poster SOPHIA is pregnent by almost 2.5 months while informer source 2 said she is planing to settle up back home in ns.
SOPHIA?
July 7th, 2008 at 5:19 am
Awwwww…. Matt weeps for Vancouverites, how sweet. LMAO.
July 7th, 2008 at 3:28 am
I think bears on this blog are driven by the same greed as the bulls.
Since when is refusing to buy a house, or anything else, for a ridiculous price being greedy?
July 7th, 2008 at 12:00 am
ignorant? Yes, because our location has made this city insular. People here rather dull-witted and unaware of the rest of the world (despite all the immigration).
materialistic? Sure, but no more than anywhere else.
ostentatious? Actually, not really. People here dress more casually than other places, there are a lot less pimped-out SUVs clogging the highways than other places in North America, and Vancouver houses are nothing special (pun intended). Except for a few downtown yuppies, nope, no way, and much less than other places.
Up until a few months ago, 95% of everyone I knew was a bull. Soon 95% will be bears. Same people, different times.
July 6th, 2008 at 11:46 pm
The main reason Vancouver has been maligned with a real estate bubble is that Vancouverites are ignorant, materialistic and ostentatious. These attributes afflict both bulls and bears.
You comprehend neither bubbles nor bears. In fact, your posts here invariably communicate little more than the limits of your own comprehension. It’s like watching a man bounce off a trampoline and bash his head against the ceiling, over and over again.
July 6th, 2008 at 11:21 pm
#123, VHB,
Loosen up the drawstring on your lululemon pants. I think bears on this blog are driven by the same greed as the bulls. The main reason Vancouver has been maligned with a real estate bubble is that Vancouverites are ignorant, materialistic and ostentatious. These attributes afflict both bulls and bears.
July 6th, 2008 at 10:08 pm
When this house market crashes the provincial and federal governments will bail everyone out. You will all pay fot the foolishness do not be fooled.
As for the carbon tax and transit etc you have all missed the real show yet to come. Cap and trade is on it’s way and will shutdown what’s left of industry in BC.
So let’s sum it up. We’ve got a crashing housing industry, a forestry industry that’s on death’s door, a huge bailout on it’s way and a provincial government hell bent on shutting down all industry in the name of a slide show by a failed politician. Should be fun.
July 6th, 2008 at 10:01 pm
“Did it explicitly say anywhere that there are 2 ‘additional’ stalls, or are you using your imagination again?”
Exx,
here we got description of property if you don’t believe this then go check out your own posted link again- good?
Unit #301
Type: Apartment
Description: Coquitlam’s tallest building, brand new 2 bedrooms, den & 2 baths + 2 parking. The best layout in the building, 965 sq ft + 73 sq ft balcony. Close to Coquitlam Town Centre, restaurants, public library & recreation centre.
Exx i shoudn’t be complaining if you had left your post
question marked but you were throwing your post with confidence so you deserve that rant you have got to mislead the thread and posters but today you are doing little better so hey? IT’S OKEY!!!