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You should check the language title i was trying to find out more info from 8 but “teletubbies bye bye.”-he said
http://www.dreamgate.com/teletubbies/bye.jpg

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And by the way where exactly are you from? Forgive me but there’s no way you were born in this country. I’m guessing somewhere in Southeast Asia based solely on the fact that according to Wikipedia:

Krrish is a 2006 Bollywood science fiction superhero film directed by Rakesh Roshan. Released on June 23, 2006.

Based on that I’m guessing Indian, Sri Lankan or Pakistani and given the cultural makeup of Vancouver I’ll bet India.

Am I right?

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Shhss man,Sophia do you know what ever happen with you guys at other end you never come to report back to confirm things,let me line things up here for you bdk strataman and other.

Most of Occupations are based on oppertunity not really on education.(what are you cooking sophia do you know how to make lasagna)next Hey krrish2 buddy you are a warehouse worker! Remember you had a shot on waitress,window drapers,taxi drivers etc.

Sophia no matter what it did not took life to learn a lesson only 1 year GIRL no wonder you stop calling him warehouse worker hey krrish2 did you see that?.

Anyway “he never wish you anything bad” said his mum.

Good Luck for the future his billow(beauty).

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The peculiar part about all of this was the timing. Essentially I had to liquidate everything. Luckily I liquidated before everything crashed, so at least there was more then enough to live on for a while. Funny how that works out. If they’d kept me on longer, I would only have about half as much available cash.

Life has a funny way of working itself out. I think I owe a lot of it to the voices of reason here and at VHB’s old blog. Thankfully I knew what was going to happen and while I couldn’t make money by shorting stocks etc, at least I was ale to cushion the blow. If I owned a home now I’d be *screwed*. Instead I think I can dig up the money to start a business.

A *lot* of people are about to go through what I just did. I can’t imagine dealing with all that *and* one (or more) mortgages on one (or more) properties losing value daily.

To VHB, Mohican and the Pope: Thanks so much, and may I offer you the highest compliment any Vancouver blogger can offer:

Your excellent analyses and concise observations were worth every moment that I spent pulling my hair out over Krrish’s stupidity.

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HR meeting seems to be very nice treat remember when you use to hunt for krrish2 from 8.30 to onward and use to go home by sayin”AH FINALLY”like cat had really nice meal every day after work by saying all this i mean lucky they did not fire you by monitoring your performance for productivity or else it could be actually the reason behind your termination.

Then you say their stocks are falling badly remember in your second post you say that you are stand by your words to advice people further to invest in stock market opppsss.

I just want to say don’t ever hunt for him he is with you all the time walking stalking from CHILKO to further anyway wish you good luck and please only use blogs in your free time take no tension because some one say real estate vancouver never go down so just relax.

nobody!!!!!

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Sorry to hear about the shocking way you were laid off.I don’t know what I would do if that happened to me. It is amazing that you were able to recover from it so fast.

I’m glad that you are just playing with knives and not throwing them:)!!

Well, I look forward to hearing about your restaurant in the future. In the meantime I hope you enjoy your life. It sounds like you are happier now. What did you cook up today?

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I was an IT project manager for a large telephone company. I’m not a knife thrower, I’ve just changed to a culinary career, so I’m *playing* with knives, not throwing ‘em. I figure in good times or bad, people have to eat and I’m a gifted cook. Why not make some money?

They are trying to keep the whole layoff thing quiet, I hear. The company I worked for had a very large strike a couple of years ago and ever since they’ve been quietly shipping jobs offshore. They claim it’s because there aren’t enough people interested in call center jobs. Let’s all pause a moment and consider the plausibility of that argument, shall we?

They are accelerating the offshoring. They’ve farmed out QA and product development. Rumour has it there will be massive layoffs around the end of November.

Monterey: That’s precisely how it happened. It reminded me of a Kubric film. I had asked for some emergency leave because my apartment lease was up and I only had about 10 days to find something new. The HR guy asked me to put the information into a bulleted Powerpoint list. Seriously.

I refused and insisted on a face to face meeting. That morning, I walked into a plain white room with a single table, and three chairs. My manager and the HR guy were sitting at two.

My manager said “We’ve decided today that we’re going to terminate our employment agreement with you. Here’s your package, and we wish you the best.” They slid a plan brown envelop toward me and walked out the door, without another word.

Then some woman came in and said “Hi, I’m a termination consultant. I wanted to ask how you’re feeling right now.”

The fact that she walked out of that room without a broken nose speaks volumes about my restraint, IMO.

I heard from my colleagues that it was just as Montrey said …. it was like I never existed. Needless to say they’re freaked out. I’ve heard the same story from friends who were

God, I’m glad to be out of that environment. It was a nightmare. I’ve never met managers as incompetent and venal. I’ve never seen a company so poorly run. Every day I check their stock on my Mac, and laugh. All their gains from the last 5 years have been wiped out, which means many of the employees have lost a great deal of money. Some of them are close to retirement. Many thought I was stupid for saying local house prices here were just plain silly, and a price crash was approaching. I’m pretty sure they were counting on their company stock and the value in their homes to fund a comfy retirement.

Well… who’s laughing now? I can literally watch their nest eggs collapse between the stock price and the value of their homes. When the time is right, that company will axe all of those people too, all the while trying to keep up the appearance of being family friendly and good to their employees.

Hopefully when my business starts up, I can purchase their homes from foreclosure then burn ‘em to the ground… just for fun.

Yeah I’m a jerk but I cheerfully admit it. I hope those people can learn to like the taste of dog food.

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Starring “Dave” and his assorted cast
Season # 3 out soon on DVD and Blue Ray

Order now and we will through in your choice of Nobel Laureate Economist’s advice FREE :

(PS: Sorry, but due to predicted global credit crisis, no cheques or credit cards, debit or CASH $$$$ only , unless you live in Dubai )

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Van housing never goes down: You’re being ironic, right? Even if you weren’t, you’re a funny guy. Keep the “hits” coming.

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I agree with Dave on this one, here are the peak-to-current drops in the Case-Shiller index in US bubble cities. I had to estimate the current CS number based on the May values, adjusted using the drop in asking prices since then from http://www.housingtracker.net.

Las Vegas -46%
Phoenix -42%
Miami -41%
Los Angeles -36%
San Diego -36%
San Francisco -28%
Washington DC -28%

Might not be absolute bottom for these cities, but it’s getting close IMO.

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“I could post that I expect an 85% correction and nobody would call me on it.”

Patently false, I have been called on it several times when I’ve said 60-70% is entirely possible (which I still stand by of course, notice I haven’t revised my position three times to keep up with the changing situation) 85% is ridiculous.

“past corrections have given up about 12 to 18 months of gains.”

There is only one correction on the graph you ALWAYS use. The others are just bumps on the path. Given that you have an N of 1 (even if you were allowed the others without argument you could call it an N of 4) that means that statistically you simply don’t have enough information to make that call. IF we were to propose that your N of 4 was accurate, but it turned out you were out to lunch on this current situation that would mean 20% of the results fell outside of your prediction, so the best you can claim with that method is a 80% probability you’re correct and that’s before you ignore the fact that this is a bubble of epic proportions and you ignore the fact that fundamentals have never been so out of line in this market and you ignore the fact that every other city which was in a similar position to Vancouver’s a few years ago didn’t even pause to blink at 20% on the way down.

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When was the last time we had a global asset bubble, followed by a global financial crisis, followed by a global recession Dave?

You’d better hope history doesn’t repeat itself.

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Holgs,

That’s why you did not show up with answer and you choose to sit with dave a another bear wow just joe holgs long way to go buddy the way you have disappeared in the past more shots are coming towards you again i can give you some credit to construct good argument but contents are missing buddy you are just a bear not a man.

Market in alberta fell into sellers market again in Vancouver dozens of projects are down to halt new supply and no new seller is adding their list in mls tell your micro economist friend only few more moments are available to find good deal also tell him and dave that Vancouver Real Estate Never Go Down.

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It seems like your changed expectations of a further 15-20% drop in prices here is exactly in line with most media reports, bank & economist predictions. Do you work for a bank or realty company? CMHC? Just curious.

Although I personally believe house prices in Vancouver are likely to fall much more than 15-20% overall, I don’t believe they will fall 85%.

The whole point of the argument against viewing real estate as an ‘investment’ at this point is that its a leveraged investment, so even if house prices only fall 20%, that represents a 100% loss of down payment for most people.

The other thing to consider is the way that percentages can appear on an emotional level much more comforting than they are. If you have an investment that gains 100% it only has to lose 50% to go back to zero gain.

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If RE drops anymore than 20% Dave will be underwater on his primary investment, er I mean residence.

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Conversely, if things start looking good in the Spring, then I would expect prices to flatten out.

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None whatsoever. Sunshine and moonbeams. A brief uptick in sales as knife-catchers buy foreclosures promises nothing.

Kudos for changing your mind; at least you’re not a fundamentalist. As for people’s reaction to you here: people remember their first impressions and those take a while to change.

And here and elsewhere in the blogosphere, people have been predicting current events pretty accurately for a couple of years now; though your ego may not enjoy the idea that many others saw more clearly than you, it’s true.

By all means believe in positive things, but don’t bet on them in the current economic climate; it’s a sucker’s bet.

And staying fit is an excellent goal, for its own value as well as the fact that medicare is soon going to collapse under the weight of old boomers and obese young. Or is that too negative?

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The financial crisis obviously throws a big unknown factor into any of our predictions. If the economy gets really bad, then housing will continue on downwards. There are some positive signs in the US that housing is bottoming out. Once that happens, the US economy can start to recover.

I still firmly believe that there are lots of positive things in the economy and especially here in BC.

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We obviously have different interpretations. As I read it, 2005 is when it

VHB said:
I called it a ‘bubble’ in spring 2005. …present pricing was unsustainable.

I’ll keep this short. Just because VHB called “bubble” in 2005 doesn’t mean that’s where it started in his opinion. Pretty sure that’s how it was meant, anyway, but maybe that’s my horrible reading comprehension popping up again.

I gotta give you credit man. There are a lot of incoherent idiotic bulls here, but you’re not one of them. We tend to pile on you but that’s only because you actually represent the “reasoned” arguments of the bulls in the MSM, in our families, and amongst our friends. A bunch of my friends and family have expressed the same sentiments and used the same arguments as you to explain away the housing bubble,

If I could guess why you get so many replies on this blog, I would guess that us bears are projecting our families and friends onto you (since you seem fairly normal and intelligent) and forcing on you the opinions that we don’t express to our family and friends (because we’d rather stay friends with them, whereas you are just some anonymous Dave guy.)

So kudos to you for allowing us to practice our bearish arguments in the echo chamber that is vancouver.condo.info!

I called it a ‘bubble’ in spring 2005. I didn’t claim that Spring 2005 was the top; just that present pricing was unsustainable. So, by the Freako metric, I will be ‘right’ if prices retreat to Spring 2005 levels for whatever that is worth. My prediction was for a retrenchment to pre 2004 prices within 5 years.

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I bought in 2001 and moved up in the market a couple times during that period, from an apartment to townhouse to house.

Other than that, just working away doing what I do. And keeping myself fit.

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