"No. It tells us that these developers were betting that the market would go up long enough for them to cash out."

You are saying the same thing as I am you moron. You aren't disagreeing with you you are agreeing me. The fact that builders aren't cashing out shows that experts with a vested intrest think the market is good in the long/medium term. Hence it is a bullish story. Maybe they are wrong, maybe they aren't, but you agree with me when I say all the people seeing this story as a sign of the apocolypse are morons.

Glad we are on the same page, lol.

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anyway…

"had someone in that sales office playing solitaire on the computer every day for more than a year."

That's so 1995, wouldn't the bored sales agent spend the day keeping their Facebook up to date?

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So you guys are saying that renting out a condo is bad economics.

With the current yields, yes. Even with 50% down, you will have negative cash flow!

Then why are developers renting out units?

Because they aren't selling.

The reason that builders are putting units for rent is that they are long term realestate bulls. They are taking a short term loss to maintain their long term payoff.

No. They can't sell them, and they can't afford to leave them empty. Some income is better than none.

Softlanding, pause in the market, whatever. That is what this story is telling us.

No. It tells us that these developers were betting that the market would go up long enough for them to cash out. They were wrong.

Jeez, u ppl can’t even come up with a consistent model for the world, lmao.

Keep laughing Rob, but remember – he who laughs last laughs best!

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Ah, the anticipation.

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I noticed one condo for sale that has dropped the price $11,000 in month:

http://vancouver.en.craigslist.ca/search/rfs?quer…

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(This one is more current – April 2008)

"The sharp weakening of the housing sector

in several advanced economies over the past

couple of years, and especially the financial turbulence

triggered by increasing defaults in the

subprime mortgage market in the United States,

have raised concerns that, as a result of innovations

in mortgage markets, the housing sector

could be a source of macroeconomic instability."

http://tinyurl.com/5akhnb

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Unemployment and interest rates fail to explain the foreclosure trend, so it appears that personal financial responsibility is more important than the state of the economy for explaining home foreclosure rates.

http://tinyurl.com/6ot8wj

You might be interested in looking at this.

Please comment.

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"The result was Vancouver home prices actually fell 0.7 per cent in July from a year earlier, though it is still the most expensive market in the country with an average price of $575,730."

http://tinyurl.com/5kth4b

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A co-worker narrated a weepy story and was asking for help.

End of 2007 he bought two apartments in the same strata (one for himself and one for rent) and now he is facing a somewhat 40K assessment for two units combined for some costly repairs. He tried to get a loan or another mortgage from the bank, but as he has 0 down his request was declined. He is desperate as he can't cough up that sum and knows little what he should do next. Anybody could give a hint?

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