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You do indeed deserve the accolades, you have managed to hang in there a long time, when others have not. Great job, and I hope that you stay blogging through out the downswing as well. This is practically a public service you are providing.

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To lose what one never had in the first place… that’s the worst loss of all…

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After a rather challenging summer, I’m splitting a place with a friend. We’re paying $850 each for a penthouse apartment (23rd floor) in the West End. It’s AWESOME…. great dishwasher (not stainless steel but gets the job done nonetheless huge kitchen, stunning views and not one but TWO balconies, one off my room!

Best of all I’m now paying the lowest rent since 1997. Rental squeeze, my ass. You just have to be patient and smart.

So, six months from Dosh’s post, Vancouver’s become *cheaper*, meaning you don’t really have to pay a premium to live here, unless you’re dumb enough to buy during a bubble.

ex: We’re entering another stage of that whole Kubler Ross thing….. anger. I’m so excited, I think the next phase is the bargaining phase (“Please God, if you let me get out from under this damn house for what I paid for it 3/4/5 years ago, I swear to God I’ll never dabble in real estate again!”)

Remember kids, don’t bargain with speculators until they’ve hit the acceptance phase, otherwise you’re paying too much!

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I was speaking to a co-worker today who listed his property 3 weeks ago and has rented a house – he has enough saved for 3 months worth of rent. He has had 3 open houses and no showings, and the Agent has contacted him asking if the price can be reduced. He is PISSED that the Agent is not doing their job right because they want a reduction when they haven’t had any showings (no traffic = 100% agent’s fault). He’s willing to wait 3 months before he “panics” and reduces his price. I couldn’t believe what I was hearing. I told him to remember that he has DOUBLED the value in his property, and that it is better to reduce it now and get the sale, even if you need to reduce by 10%, than to wait longer and risk losing even more. His response? 10%? There is no way in hell I am reducing it 10%, that’s $30 grand!.

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******No Head Offices then or now*******

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I must admit that I MUST read something from this blog before I go to bed, and boy I have a good night sleep after that !

I also would like to thank all the contributors to this blog, and in particular patriotz, jesse, and Drachen for their valuable input. You guys have saved me a lot of money, and headache!

Thanks again, and keep up the good work!

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Messin’ With The Kid
Stevie Ray Vaughn, Rory Gallagher, Junior Wells

What’s this a-here goin’ all around town
The people they say
they’re gonna put the kid down
Oh no, oh look at what you did
You can call it what you want to,
I call it messin’ with the kid

You know the kid’s no child, and I don’t play
I says what I mean and I mean what I say
Oh yeah yeah yeah yeah yeah,
oh look at what you did
You can call it what you want to,
I call it messin’ with the kid

You know the kid’s no child, and I don’t play
I says what I mean and I mean what I say
Oh yeah yeah yeah yeah yeah,
oh look at what you did
You can call it what you want to,
I call it messin’ with the kid

We’re gonna take the kid’s car
and drive around town
Tell everybody you’re not puttin’ him down
Oh yeah yeah yeah yeah,
oh look at what you did
You can call it what you want to,
I call it messin’ with the…

by Mel London, performed by Junior Wells and Buddy Guy

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Keep the faith, savers (hopefully) will be rewarded

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Now shouldn’t we all get back to our usual pessimistic selves?

BTW, fannie, freddie, merrill, lehman, bear, HBOS (UK), Northern Rock (UK)…why can’t we have a banking failure or buyout in Canada?

We all know we have too many banks as it is…come on Canada! Pls not Vancity or Citizens though…:-)

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On another note, I was just thinking, with all that has happened in the market in the last week (and with Van RE so far this summer/fall), I’m thinking that the bulls have been right all along – it really IS different this time!!

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You don’t realize that if it wasn’t for VHB and his original and highly preiscent blog, and then yours, legions of us Bears might have been sorry owners. I can count myself as one of the lucky ones who found the blogs before I gave in to the pressure.

Thanks for saving my financial life.

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I think decimated means reduced by a factor of ten, by the movement of a decimal point.

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