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

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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…

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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.

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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.

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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.

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” Lose the house, buy a condo”

http://business.theglobeandmai...../Business/

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” Father offers daughter to shoe-thrower”

http://www.reuters.com/article.....UH20081217

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http://business.theglobeandmai.....m_mostview

QUOTE:
NEW YORK — Just months after he was ousted from Lehman Brothers, Joseph Gregory put his mansion in tony Bridgehampton, N.Y., on the market for $32.5-million (U.S.)

The former president of the sinking investment bank could not have picked a worse time.

The Hamptons, a summer vacation playground for New York’s financial and celebrity elite, are being hit hard as Wall Street power houses such as Lehman and Bear Stearns succumb to the financial crisis.

According to a report by Douglas Elliman, real estate prices fell 11 per cent in the third quarter in the Hamptons, an exclusive section on the eastern tip of Long Island, less than 60 kilometres from New York City.

——

Suggestion: put it on CraigList, that tends to attract the
more elite amonsgst us.

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Whats that I hear? “Help me Mommy, I’ve got a Boo Boo and you have to make it go away Wahhhhhhhhhhhhhhhhhh.” Yup, thats the flushing whiny sound of another specu-vestor going through the meatgrinder courtesty of the Bob Rennie Crap Sausage and Bullshit factory.

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I wonder if they even know that much about it, or if they just bought it as a “no-lose proposition, doesn’t matter what the actual specs are”!

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“In order to salvage some of our deposit, we are willing to assign this New Luxury condo which is ready and must be purchased immediately, for $10,000 less than the purchased price ($355,000) over 2 years ago!
The same suite is listed for $400,000 right now!
So you will be saving $55,000!

We are desperate not to lose our $55,000 deposit, So we are open to any offer.
More details are available upon request.”

Yawn…. 55,000 is only a small fraction of what you are about to lose. Something like 15% of your total loss…

Regards

arit

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I am with you. If before I would consider strata living, today and in the future I am staying away from it. Another lesson learned on other people’s experience.
Thank you internet.

Regarding Stewart’s post:

There is a picture of Caleb (bonus point: who knows what’s Caleb in Arabic?) standing next to his Corvette, where it says:

“It is clear that Caleb has chosen his career as a Realtor because he is able to put 100% of himself into his business and his clients’ satisfaction. He works tirelessly to sell properties for these valued clients.”

works tirelessly = post listing in a bear blog?

My definition of ‘work tirelessly’ is a bit different… LOL

Regards
arit

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And ‘ assignment of contract” !!!!!; at this stage of a crash????? What kind of an idiot would step under that piano? Hey man , good luck with that.

To the guy who’s touting this dog ‘F-You , you F’ing sleazeball f’er. Find a job you’re more suited to, like pimping and such. And have a nice day!!!!!!

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I remember reading either earlier this year or some time last year about many condos in Miami turning into rotting husks because so few were being properly maintained. There was mold in the hallways, paint was in bad shape, and a host of other problems. I reckon that’s a sneak peak at what the condo market here in Vancouver has in store for itself. (Sorry, I had no luck Googling that old news story)

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2 bedroom, 2 bathroom, Den, Storage and Parking – unit has so much to offer sub-zero+Bosch appliances, hardwood floors, balcony and storage locker. Brand new and never lived in completes in 2008/early 2009. Assignment of Contract – Seller is selling for below what he originally paid how can you go wrong!!!

Visit our website for pictures and more info http://www.calebquinton.com

8th at Pine

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Have a great holiday all.

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Why should the developer expect anything but less on the down side nutslap.

Flippers were happy to take the profits. Developers were prepared to take less profit, and if the profit went to a flipper, then the developer had defrayed their risk.price go up in march

Dont cry for these flippers who go broke. They were quite happy to take the profit, thinking there was no risk. If they thought there was no risk then they deserve to be forced to accept the true nature of risk and reward.

How many condo’s were on contract, how many flippers. That is a lot of pain for a lot of people.

It wont be long before you see homeless on the streets, with signs saying, bankrupted by nasty developer.

Walk on by, and dont look back

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If what we’re seeing plays out, there will be that much more speculators in Vancouver and B.C. that will be unable to complete, leading to more units being dumped back onto the market versus other Canadian cities. The supply here will balloon that much more than other Canadian cities if developers start dumping these units back on the market here versus developers in other Canadian cities where pre-sale buyers are able to complete.

What do the rest of you think?

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Tried it once…couldn’t even find the ad later …and was amazed how many ads were posted in 24 hours after mine. Frikkin 100′s of them . (Gee , Ya ‘ think maybe “free” has something to do with it?)

Also, on the guilt by association, one’s ad gets buried amongst those that blather on limitlessly with the most dumbest revelations, as opposed to basics like:
– $ Rent per month, ,
– % of Utililies ,
–# of Bedrooms,
–No Smoking/ No Pets,
–References req’d etc.

A good ad gets lost in this insane asylum of CraigsList, its more an “intellectual bloodsport” type of amusement to read.

A classic was what one VCI posted with the landlord admitting to a mice problem now fixed? yeah right !

With apologies to pet owners,(and yes I do love animals which is why I don’t imprison them like a slave LOL…. NOTE TO SELF: oops watch the pet lover backlash ) ,…a landlord of a new condo is reeking of desperation if they accept pets. You can have your insurance claims made null and void if the pet is deemed responsible for the damage.
In about 1- 2 months the pet odor will infest the place, and a lot of people have pet allergies, plus many stratas won’t allow them.

Paul wrote a while back of the apocalyptic vision of YaleTown and all those other Hi Rise areas in the with RE meltdown blast zone .
I am more convinced now of that “Apocalypse Now” vision.
“I love the smell of perspirng realtors and crapping specuvestors in the morning ” .

Overpriced newly built condos with desperate “owners on paper” trying for any/all cash flow will expose the potential landlord to bad renters,(hookers, drug labs, etc. )now with access to the entire building….. the good ones will stay away.

All too predictable.

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http://thechronicleherald.ca/N.....97165.html

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