Friday Free for All!
Those of you that are regular visitors know what this means. The ‘free for all’ post is a general news round-up and open topic discussion we do every weekend. Here are a few stories I’ve noticed this week:
-zero down mortgages ‘have been quite popular‘
-price drops on the outskirts and upper end
-cracks in housing market spur new rules?
-new rules won’t deflate market
-buy now, save later
-house sales slow across North Shore
-lower mainland house prices start to sag
-building still booms in Vancouver
-REBGV listings continue rapid growth
-leaky condo crisis far from over
-Bank of Canada urged to raise interest rates
-new Canadian bankruptcy laws
-six months, 343,000 lost homes
-Fannie Mae and Freddie Mac, too big to fail?
-Fannie Mae and Freddie Mac shares plummet
So what are you seeing out there? Post your thoughts, 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!
July 15th, 2008 at 10:01 am
Sophia,
Imagine if your sister in ad is a con artist the new owner will be glad to ride her on highway all life long.
July 15th, 2008 at 9:34 am
Uh oh
From the G&M
"Home prices slip for first time in nine years"
http://tinyurl.com/6xfm8v
July 15th, 2008 at 9:32 am
i posted this on rob's blog:
from the Sun today:
http://tinyurl.com/wearedoomed
from the article:
….In B.C., the decline from the first to second quarter of this year was 5.1 per cent …..
…..this is the second consecutive quarter of decline and that is a concern……
….this could be an indication that the economic sands may be shifting in B.C……..
….Among metropolitan areas, 21 of 34 saw declines in the value of construction with the steepest being in Vancouver……
….A report by Reed Construction Data warned Monday Canadian home prices may be poised for a fall…..
….Prices won’t rise more than inflation this year and could fall as much as five per cent in inflation adjusted terms………..that paints a much darker outlook for the housing sector than the real estate industry is currently projecting……
….The real, inflation adjusted, change in housing prices this year is more likely to be . . . between zero per cent and minus five per cent for the country as a whole……
enjoy
July 15th, 2008 at 9:19 am
Bank of Canada has announced they're holding steady on the interest rate at 3%.
July 15th, 2008 at 8:32 am
"Middle-aged women w/ leathery skin and questionable intelligence are a dime a dozen."
You'd pay that much? Even if she was throwing in the house for free I'd need some kind of time limit. At least the one in Florida was attractive by some people's definition (with her extended patio!)
July 15th, 2008 at 12:36 am
Anonymous:
So you've met krrrrish's mom then?
Oh way, she's a nasty old hag with leathery skin and there's no question of her intelligence. I mean look what she let slither out of her festering loins…..