Friday Free-for-all!
Well, I made it a week without posting, and I’m encouraged by the way that readers have stepped up with story submissions. No one seems to be interested in doing the Friday Free-for-all, and I’m not sure it’s a tradition I want to let vanish yet, so here goes:
-Vancouver rises in economic ranks, Regina is #1
-Canada could face six years of deficits
-Warnings of risky mortgages ignored
-What ever happened to $200 / barrel oil?
-Toronto condo boom heading for bust
-Bush considers ‘orderly’ autos bankruptcy
-Grim choice: walking away from a mortgage
-Harper concedes possibility of depression
So what are you seeing out there? Post your news, links and thoughts here and have an excellent weekend!
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 into your comment will automatically create a clickable hot-link.
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December 24th, 2008 at 11:09 am
I love this and all the other blogs. They have certainly helped me not feel alone when I began investigating the RE market here.
However I am concerned that many people here are very aware that our government and media have been complacent in making this bubble, but they have not stepped out of the RE realm to see that this is just part of the BIG PICTURE.
Sure many of you have, but many have not and still see this as an isolated realm.
We are heading into the ENDGAME SCENARIO of our way of life.
I understand this is a RE blog and not a 9-11 truth site so I will not make this a long post but let me assure you that this economic meltdown is not by accident. It was not unforeseen. It was planned and orchestrated.
Many of you already know this. For those that don’t…
start researching.
Merry Christmas
http://www.infowars.com
December 22nd, 2008 at 9:20 am
I am very sorry for earlier post, it was very rude and disrespectful to all of the guests and posters on this blog. I admit I am an idiot and know nothing about Vancouver real estate or real estate in general. I’m pathetic, sorry :_(
December 22nd, 2008 at 8:41 am
#140 Mike – you must be Desperate to post that listing on this Blog! I just finished watching your recent You Tube Video, pathetic. If I were you, I would start looking for another line of work!
December 22nd, 2008 at 8:27 am
the sad thing is that once too many people agree with the bleak future of the vancouver RE, its bound to happen.
The funny thing is that after the party last weekend I am absolutely sure that the downward trend would continue. Not because of the fundamentals, or overpriced market or else. Just because that everybody I talked to agreed that it would go lower. This strikes me quite a bit, and I think that -30% is not reasonable anymore, it should/would be bigger drop, only because of the people emotions skewing the fundamentals..
The RE is very emotional investment, and this time the emotion is negative (across the board). Cheers…
December 22nd, 2008 at 2:15 am
Re: Krugman article. Great link. I often have a sharp difference of opinion from Paul Krugman, but this time I can’t agree more.
I lived in London during the mad days of the middle of this still-unnamed decade, and can say first hand what an orgy of money it truly was for the investment banksters over there. People I knew in their late 20s and early 30s were making half a million pounds a year in bonuses, on top of their already huge salaries and stock option packages. I knew back then that something was horribly wrong with the system when so many people were getting so rich by simply moving money around and not creating anything of real value.
The worst thing is, they’re getting bailed out while at the same time keeping the money they “earned” during the good days.
Actually that’s not the worst thing. The worst thing is that things are about to get much, much worse. Inflation, deflation, it doesn’t matter whose prediction wins in the end. There will be a lot of suffering in the next few years, MUCH more than people today even think, even with all the doom and gloom. The banksters still have our money and they’ll be enjoying it from their Cayman Island resort condos for the next little while. And they didn’t leave back here much for us.
December 21st, 2008 at 11:50 pm
What do you mean by those people are in trouble?.
If you own a house at that age you are definitely sitting mortgage free nothing to worry about paying rent etc,maximum home owner grant at that age.
If you think of losing value? again they have nothing to lose 133% appreciation in last five year based on 2007 what it would be since when ever they own their homes?
I didn’t get you further then this unless you speak little bit more about your concern.
December 21st, 2008 at 11:27 pm
#150. Think of it, 67 years old and no savings, these people are in trouble. It’s cat food time.
December 21st, 2008 at 11:11 pm
#136,
If 2.5 million people in greater vancouver start earning top income what will happen to housing sector you fucking idiot there are only 625.000 home in greater vancouver you fucking son of bitch don’t you read that future supply at number #2 on this thread you fucking idiot those are all ready sold out you fucking bastard.