Average house price drops 10% in one month
This bit of news courtesy of local Realtor Paul Boenisch who shares market statistics on his website. November 2008 just saw a very sharp drop in the average sales price of single family homes:
Prices are falling sharply. Believe it or not the average SFH price fell 10% this month. Yes in 1 month. $745,778 for November v. $825,206 for October. The average has dipped 19% since March. It will be interesting to see if the benchmarks also make a dramatic drop.
December 5th, 2008 at 3:19 pm
quebeccorner.com
i must say these are samaller and more prcey than the one I lived back in downtown London, England. Joke.
I guess it will saell for waht these dumb people with bigger wallets than brains are willing to pay for !!!
December 2nd, 2008 at 1:22 pm
"101 RJB Says:
December 2nd, 2008 at 8:51 am
Alex,
BioWare is owned by Electronic Arts."
And electronic arts bought Distinctive Software. Now known as EA Canada a subsidiary of California based EA.
December 2nd, 2008 at 12:15 pm
4.2% drop in the benchmark, that makes nearly 8% in two months.
Wasn't Dave saying it would never hit 4% per month? All we need to do now is hit a total of 20% off peak and Dave will have been 100% wrong on everything he said.
December 2nd, 2008 at 10:54 am
other ted
"I think not."
Well that's obvious to anyone reading your posts and one of the only truly sensible things you've said.
December 2nd, 2008 at 10:46 am
Hi folks, be wary of michaelsteward et al, esp those who predicted gold at $5k just before it fell back to $700+. Their agenda is to get you the greater fools to buy when they are ready to dump their stocks. Too bad even honest VHB fell for the rues and congratulated the scammer on flipping his 14 houses/condos. Marco911 is the only smart one who saw through it.
December 2nd, 2008 at 10:30 am
Re : a Provinces resources..
I think it would be fair to say that Canada was basically a wilderness originally tapped into for its resources by the Hudson's Bay Co. et al.
B.C. was basically founded by Gov. James Douglas UNauthorized pronouncement in Yale to claim BC for the Queen ("British" named for the Queen and "Columbia" named after the river )…to establish control /autonomy and head off rogue Americans flooding in for the B.C. Gold Rush at a time the Americans were outnumbering the BC citizenry.
Subsurface rights (ie mining claims) were established in BC BEFORE surficial land rights (ie property ownership) and exist to this day as an overriding right( which many still don't quite understand why ) …but that goes back to BC 's specific history, and it is a right that is almost impossible to extinguish once it has been established prior to other legal rights being created later.
Once the gold ran out, homesteading became a way to attract people, who were literally given land in return for making it productive via exploitation of its surface potential(ie farming, logging etc.) Once more people were lured in, towns were created, then cities etc. etc.
Over time, various Fed sponsored biases between Provinces resulted. Maritimers will claim that they were the manufacturering hub of Canada till Ontario took over with preferential treatment by the Feds. Then we get into exports and various trade agreement like NAFTA and softwood Lumber.
Obviously the US bows to it's own domestic lumber producers based on too much supply in both countries or is it niche' lobbying and local politics ? However US is hard up for any/all Oil… US imports most of its oil…and most certainly does not want to impose duties on our Oil that would cost their own citizens……but lumber is OK to penalize. Sounds fair to me (?!?)
OR Maybe we should revisit this. Given the global meltdown , are things like NAFTA even relevant any more?
December 2nd, 2008 at 10:22 am
Cashisking: Lack of a link says you're not telling the truth. nice try though!
December 2nd, 2008 at 10:13 am
Benchmarks are out ….
Vancouver West … one year change … DOWN 18.5%
Thought it was immune
December 2nd, 2008 at 9:48 am
Bidding wars anyone? Come on..I offer 400K..you?
December 2nd, 2008 at 9:22 am
Wasn’t it true that at the time of Alberta becoming a Province in 1905 , many OTHER Canadian provinces already had retained ownership of their own natural resources and, in fact, many of the Eastern provinces had these resource rights since the 1800’s ?
Correct, because they were already self-governing colonies at the time they joined Confederation. This was also true for BC.
But Alberta, Sask, and Manitoba did not join Canada – they were created out of territories that were paid for by the Canadian government, just as the Western US states were created out of the Louisiana Purchase. And the US government retains the resource rights in those states to this day. As the federal government retains ownership of the resources in the Northern Territories.
The turning over of resource rights was an act of goodwill by the Canadian government toward the Prairie provinces. I am not asking for them to give the resources back, but to stop accusing the rest of the country of "stealing" them when some small part of the revenue they produce ends up in the federal treasury through general taxation. Oil produced by Alberta is exported to the US without any export tax. Compare this to BC, where our forest exports are hobbled by an export tax agreed to by the federal government. Who has the greater right to complain?
December 2nd, 2008 at 9:13 am
"BioWare is owned by Electronic Arts."
Bioware was founded in 1995. The buyout went through in 2008. That EA had to buy Bioware out lock stock and barrel at a hugely inflated price since it couldn't compete with them fair and square actually makes the point that Alberta can indeed compete with EA more valid, I'd say.
December 2nd, 2008 at 8:51 am
Alex,
BioWare is owned by Electronic Arts.