Comments on: not just north america.

By: alexcanuck

alexcanuck — Fri, 04 Jul 2008 14:53:57 +0000

Not only did the Vancouver Sun say DROP along with HOUSE PRICE, it appeared as a teaser on the front page! I just love that moment at the top of a roller coaster, before your stomach jump into your throat! Just a little drift gently down, this won’t be so bad, will it?

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By: bdk

bdk — Fri, 04 Jul 2008 04:48:10 +0000

I think smart guy and rich I am and buy many condo to make rich I thought but now market go down and I work second job as deliveryboy because best place and 1% foreigner buyers come and make price go down 53% on earth who is krish?

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By: ulsterman

ulsterman — Fri, 04 Jul 2008 04:34:31 +0000

I noticed in Chapters yesterday LIFE Magazine has a special edition all about the 100 best places to see on earth. It’s broken down into various categories: spectacular cities, romantic locations, natural wonders etc. Guess what? They forgot to include the Best Place on Earth! The only Canadian entry was Nova Scotia. Surely there must be some mistake?

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By: browntown

browntown — Fri, 04 Jul 2008 04:31:00 +0000

hey bdk nutbagger! spend more time talking to mortgage broker and less time fantasizing about this krish? and watching “fight club” movie! tv towers ready for next show-next leg up! when everyone talking time to sell it means time to buy! ready go corner office money bags!

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By: freako

freako — Fri, 04 Jul 2008 02:44:03 +0000

I hear about Bill Good renting a lot, and he makes mention to a house he used to live in (and I assume own) in North Van. Does anybody have the real facts on what and when he owned and sold?

Don’t when or if he sold, but many many years ago, he lived in a house in the Montroyal area, on or just off Cliffridge/Ranger I believe.

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By: snark

snark — Fri, 04 Jul 2008 00:24:05 +0000

Pshaaw - house prices always drop a little in the spring and summer. Just wait till we get to the hot winter selling season, then prices are sure to pick up again.

Wait? House priced dropped? In Vancouver?! In June?!?

Ok everybody, please proceed to the exits in an orderly fashion and repeat after me “there is no bubble.. everyone wants to buy here.. its different this time”

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By: dingus

dingus — Thu, 03 Jul 2008 23:56:52 +0000

Speaking of journamalism, the snowball at the Sun is picking up speed…

Greater Vancouver house prices drop slightly
Derrick Penner , Vancouver Sun
Published: Thursday, July 03, 2008
VANCOUVER — Lower Mainland house hunters are now in a buyers market with prices that have eased slightly off of earlier-year highs in many markets, according to the latest report from the Real Estate Board of Greater Vancouver.
The region saw 2,425 sales registered through the Multiple Listing Service in June, the board reported, a 43-per-cent decline from the same month a year ago.

At the same time, owners listed 6,546 properties, an 18 per cent increase from the same month a year ago.

At June 30, Greater Vancouver’s inventory of unsold properties stood at 18,260, a 54-per-cent increase from a year ago.

And while so-called benchmark prices in June were still up over the same month a year ago, in many markets typical prices were down slightly from benchmark prices in May.

The Greater Vancouver benchmark price for a detached house was $765,654 in June, up 7.3 per cent from the same month a year ago, but down from the May benchmark of $771,250.

In the Fraser Valley, realtors recorded 1,418 MLS sales, a 31-per-cent decline from the same month a year ago. At the same time, 3,236 new listings hit the market, bringing the valley’s total inventory of unsold homes to 11,295, a 47-per-cent increase from the same month a year ago.

The Fraser Valley’s average detached house price hit $561,771 in June, a six per cent increase from the same month a year ago.

http://www.canada.com/vancouve.....5a692e3a5d

Odd that they reported on a MoM decline when YoY is still positive, doncha think? Very un-Sunlike.

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By: betamax

betamax — Thu, 03 Jul 2008 20:56:20 +0000

I think you’re expecting too much of a news reader. His main qualification is “good hair.” Thinking is not only optional, it’s discouraged and gets in the way of reading cue cards.

LOL. Harsh but true. Most journalists have an arts degree and/or 2-yr journalism diploma. They can’t do math and know nothing about economics. Bill Good is either pimping for sponsors or just too stupid to realize his own hypocrisy.

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By: Drachen

Drachen — Thu, 03 Jul 2008 20:25:45 +0000

Pretty simple exhibition to put on Anonymous.

“You’ll note over on the right we have a sieve and on the left a Vancouver condo. At first you may notice little difference, they’re both the same size, they both let water pass through as if that was their design and they both smell of Kraft Dinner. The real difference is that people pay $1.99 for the sieve and $599,000 for the condo.”

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By: Van-zee

Van-zee — Thu, 03 Jul 2008 20:23:58 +0000

Patriotz says.

” They compare us to Seattle which is a “domestic city”.
Take that, Microsoft! Who do you think you are, Boeing?
Who drinks Starbucks? Who shops at Costco anyway?
You’re a nobody, amazon.com!
You’re just a bunch of homeboys! Lululemon rules!”

This echos something that has been bothering me about the Canadian and Vancouver economy. The City may be “international” but our brands and businesses are quite domestic. Where are our great Canadian brands of international stature? We can’t just flip condos to each other, sell our resources and pimp out our education system and thrive. We need more innovative businesses that can compete globally or become increasingly redundant as a country.

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By: Anonymous

Anonymous — Thu, 03 Jul 2008 19:42:20 +0000

Vancouver’s architectural style in spotlight at London exhibit-The Vancouverism exhibition is scheduled for Paris this fall, and then will be shown in other parts of Europe and Asia. It could return to Vancouver for the Olympics in January and February 2010.
http://www.cbc.ca/canada/briti.....ml?ref=rss

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By: patriotz

patriotz — Thu, 03 Jul 2008 19:41:22 +0000

Instead, he’s creating a marketing office 5,000 miles away — in South Korea.

When the local market runs out of greater fools, look for them abroad. Same old, same old. Like Phoenix marketing to Albertans, etc.

Won’t work for Vancouver though because we’re the last ship to go down.

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By: mk-kids

mk-kids — Thu, 03 Jul 2008 19:32:51 +0000

My hubby found “Mr. Housing Bubble” online yesterday and thought we’d all get a kick out of him. I have linked here to a 2005 article in USA today because it profiles Mr. Housing Bubble and reading the date on the article made me laugh… August 16, 2005. What was “timely” in the US in 2005, is finally “timely” in Vancouver 3 years later.

http://www.usatoday.com/money/.....bble_x.htm

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By: bdk

bdk — Thu, 03 Jul 2008 19:25:24 +0000

Drachen, i agree it’s more convenient and costs 1/3 of the carrying costs of a mortgage plus it won’t go down in price for decades to come, especially TV Towers.

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By: Spincycle

Spincycle — Thu, 03 Jul 2008 19:23:21 +0000

Someone forgot to tell Seattle that they’re “domestic” and not “international”

http://www.msnbc.msn.com/id/24882849/

Peter Oh, a Seattle real estate agent, is planning to open a showroom to market 21 condominium buildings in the Puget Sound region. But he’s not looking for a storefront location in downtown Seattle, nor is he planning to locate among the many new high-rises in nearby Bellevue across the lake.

Instead, he’s creating a marketing office 5,000 miles away — in South Korea.

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By: Spincycle

Spincycle — Thu, 03 Jul 2008 19:18:19 +0000

Jesse that spitting image video is hilarious! I hope you don’t mind, I posted that in the forum here.

The more things change the more they stay the same.

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By: Warren

Warren — Thu, 03 Jul 2008 19:17:38 +0000

I think Seattle was considered “domestic” and Vancouver “international” because there are a lot of rich jet setters who have apartments here they don’t use, etc.

I’m sure there are some, but I don’t think they impact RE on any significant scale.

Who knows, typical Bill Good BS. He mentioned his “friend” Bob Rennie told him lots of international people are buying up Vancouver RE. Didn’t Rennie already go on record saying less than 10% of pre-sale buyers were from out of BC?

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By: Spincycle

Spincycle — Thu, 03 Jul 2008 19:08:41 +0000

Isn’t this global economic downturn just like receiving the bill after living off credit cards for too long? Was it really unexpected?

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By: patriotz

patriotz — Thu, 03 Jul 2008 19:03:53 +0000

It’s possible that he sold and decided to rent purely for the convenience.

Renting instead of buying because it is more convenient is an economic choice, and is one of the reasons why renting is (or is supposed to be) more expensive than buying.

They compare us to Seattle which is a “domestic city”.

Take that, Microsoft!
Who do you think you are, Boeing?
Who drinks Starbucks?
Who shops at Costco anyway?
You’re a nobody, amazon.com!

You’re just a bunch of homeboys! Lululemon rules!

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By: Thums up2

Thums up2 — Thu, 03 Jul 2008 18:41:52 +0000

BDK,

After contracting through the first three months of the year, economic growth in Canada had a modest rebound in April, and is expected to end this year at 1.4%,
http://www.financialpost.com/story.html?id=629717

Month over,year over,decade over,when ever what ever vancouver, b.c.
“THE BEST PLACE ON EARTH”
http://www.istockphoto.com/fil.....id=4356193

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By: read on

read on — Thu, 03 Jul 2008 18:36:15 +0000

to be honest, I think the UK is in for a real bath over the next few years. Prices in London should be high, of course, but you’ve got outrageous prices in cities such as Leeds and Newcastle where incomes really are quite low. Still not as divorced from fundamentals as here though….

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By: Drachen

Drachen — Thu, 03 Jul 2008 18:26:10 +0000

Wikipedia says “recently”. It sounds as though he’s an empty nester and downsized after his kids left home. It might actually have nothing to do with his views on Real Estate. It’s possible that he sold and decided to rent purely for the convenience.

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By: Warren

Warren — Thu, 03 Jul 2008 17:56:31 +0000

I hear about Bill Good renting a lot, and he makes mention to a house he used to live in (and I assume own) in North Van. Does anybody have the real facts on what and when he owned and sold?

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By: kabloona

kabloona — Thu, 03 Jul 2008 17:53:05 +0000

Sports tards are the worst pumpers of all….I remember the dreadful pumping of Expo 86 from that idiot Al Davidson (also on CKNW, imagine that?) when I was a kid….

By the way, now that I’m back in BC, why is Bill Good still on TV and radio? Geez, die already…..

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By: s.park

s.park — Thu, 03 Jul 2008 17:39:10 +0000

the uk is different that bc.
we have mountains and ocean, uk has only hills and ocean.
this is why we are immune.

to quote one of my favorite philosophers:
“can’t touch this.”
- MC Hammer

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