Its time for our regular end of the week news round-up and open topic discussion. Here are a few stories I’ve noticed lately to kick off the discussion:
–Greater Vancouver average house price drops 8% from 2007
–Canadian house prices down, blame British Columbia
-Infinity Surrey condo tower: Anyone got $100 million?
-Victoria: development halts at $1.4 billion cappela condos
-Kelowna: 21 story condo development grinds to a halt
–angry condo owners seek stronger protection
–Realtors to host grow-op meeting
-The end is here for 40 year mortgages
–banks push locked-in mortgages
–CMHC buys $5 billion worth of mortgages from banks
-Conference Board of Canada: No recession in Canada
-Bank of Montreal: Canada can not avoid recession & deficit
-Vanoc: $48 million deficit for 2008
–Japanese shares market drops 11.4%
-Construction cranes nearly extinct in Miami
-Paulson: regulation bad! er.. regulation good!
Phew! So how’s everyone doing out there? Is it time to panic? Time to buy? Time to hide under the covers with your fingers in your ears? What are you seeing out there? Post your news, links and anecdotes here and have a great relaxing non-panic filled weekend!
UPDATE: The CBC Early Edition is putting together a story for Monday morning and would like to talk to anyone who invested in a development and is trying to get their deposit back, or those who have succeeded in getting their deposit back. Contact firstname.lastname@example.org or email@example.com if you have a story to share. Tell ’em VancouverCondo.info sent you!
note: any conversation on Vancouver, 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!