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Happy $104,725 Holidays!

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164 Comments

As we wrap up 2008, I would like to wish you all a wonderful winter and a Happy $104,725.00 Holiday.  If you went shopping for a house in Vancouver last May but haven’t yet bought, that’s how much you’ve saved so far according to local real estate board statistics.

That’s enough to buy a small house or condo outright in one of the US housing bubble markets of California, Arizona or Florida.

Of course those markets have been falling for the last three years, our prices have been dropping for less than six months.  What will Decembers stats show? What about the New Year?

At this point some people are very concerned about the state of the economy, both globally and locally.  I do believe we’re headed for some leaner economic times, but it’s worth keeping perspective.  If you’re reading this website from a warm dry location with a comfortable place to sleep and food to eat, you’re doing ok.  You don’t have to go far in Vancouver to see people that are doing a lot worse.

Enjoy your extra $104,725 and have an excellent New Year, I have a feeling that 2009 is going to be very interesting.

CZ suggests the following poll:

[poll id=”32″]

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arit

realpaul

Excellent idea. Please do keep us updated.

Regards

arit

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Supraboy

She looks older than late 20s. Perhaps the reason why she got where she is today was because she was willing to get worked over by some hungry men. Who knows? The quicker they climb, the harder they fall.

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DoDo1975

Jennifer Podmore is the daughter of Concert Properties CEO, one of the largest developers and property managers in Vancouver.

Biased; of course not. And by her picture, obviously a wealth of knowledge and experience. Probably only in late 20's. Listen to her alright!!

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Supraboy

Arit, I will stay here and come back more often, we will see what 2009 holds. I'm very excited since I'm heavy in cash.

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realpaul

Arit 155 thats very interesting. I am going to take this up with the Times Colonist editorial dept tomorrow. Although this sleazy behaviour is not illegal ( as it is in the US) it is unethical and I intend to make that point with the editor and cc the CRTC. I have gone a few rounds with Global TV and The Vancouver Sun ( I took them to account when they tried to flog " The Diamond Triangle" in Fleetwood-Whalley )on this same issue and it really pisses them off when you catch them out . I was successful in that case. I know they have to consult legal about this and this costs money. The expense has to be approved and it exposes the editor for the dumbshit that he is. I suggest all of you write The Times… Read more »

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arit

Supraboy,

Yes, thanks, done puking. Feeling better now.

Look, we have different views. I respect your position, you have presented it clearly. My opinion is different, and I don't think there is much more to add. The details have been already over-processed.

The chips are in place and the little white ball is rolling. 2009 will be either good for the Supraboys and bad for the arits, or vice-versa. I invite you to stay here with us until the bitter end, and then we will see whose right and whose poor.

Then we can meet for a beer and we'll race your Supra against my Previa 😉

Best regards and a happy 2009

arit

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Anon

"Vancouver is well insulated from the recession"

Vancouver, more than most other places in Canada, is built on debt. What we have is not a "recession", it is debt crisis. Vancouver is NOT insulated from the debt crisis, no place is. It will be painful.

By the way, in addition to monetary debt we also have quality debt in our real estate. The quality of construction is so shitty that owners will have to pay for it much earlier than they can possibly pay off their mortgages.

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Supraboy

You guys are harshly scrutinizing her. About post #150, are you done puking? You shouldn't be in denial, Vancouver is well insulated from the recession. We have the best city in the world, but isn't it too bad that in every city, there are bears wishing for a market crash? You can dream about a real estate drop all you want because with the fed and all the world governments acting together in a coordinated attempt to pump more money into the system, everything will get re-inflated. Better get in now before it's too late. I've overloaded myself last week with a lot of agricultural and gold stocks and it's working wonders for me right now. With a real estate and commodity re-inflation in 2009, get ready to miss the boat and kill yourself.

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arit

Can't stop puking, I feel like a rape victim…

Look at this….

The Sun says ONLY this about the article's writer:

Great deals out there

Home buyers are holding back because of the economy and deals have sprung up as a result

Jennifer Podmore Russell, Special to Westcoast Homes

An I found these gems:

1. Jennifer Podmore Russell, founder of MPC Intelligence Inc.

(from http://www.canada.com/victoriatimescolonist/news/…

2. And also (from http://www.mpcintelligence.ca/about)

What We Do

MPC Intelligence (MPC) is a real estate market strategy consultancy and market intelligence data company. MPC assists the development community to make better business decisions by providing services that will allow clients to Think Before They Act.

So she is on the developer's paycheque. Isn't it criminal to advertise in disguise???

Regards,

arit

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arit

realpaul,

Indeed, but didn't they fire their regular RE "periodist" from the Sun two weeks ago for getting a hefty sum of 'papelines' from the developers?

Isn't this Jennifer Podmore just deja-vu all over again?

Regards,

arit

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realpaul

#150 Arit. It is criminal IMHO opinion that the local media hides these industry tout sheets behind the veneer of 'news'. In the US the papers have to disclose the relationships they have with advertisers and they can't get away with this crap.

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realpaul

Well , it seems like we're striking some nerves. My experiance is that the loudest and most beligerant voice in the room is always the least sure of themselves.

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(bdk)

Jennifer Podmore is the daughter of a hot shot real estate guy.

She's been thoroughly discredited on RET.

Hey supra, why don't you to to Real Estate Talks? There are lots of people with your point of view on there.

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arit

Supra, Thanks for that article. I am happy you posted it as we have not seen that specific type of propaganda from the Sun in almost two months. "Jennifer Podmore Russell, Special to Westcoast Homes" I need to find out who this lady is. I will bet 1000 dollars now with whoever that she is an interested party – aka realtor, developer, etc. Posing as a periodist. "MPC Intelligence's experience" Who is MPC? And the usual propaganda: "The reality is, if you are looking to buy a home, there are some great deals if you act today." "Perhaps the greatest advice one can receive is that there is never a bad time to start building equity into a home" "Five years from now, we will all be more disappointed with the things we didn't do and the opportunities we didn't… Read more »

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betamax

You snooze, you lose, better start buying real estate now guys.

LOL. Take your own advice and leverage yourself to the moon, because no one's listening here, dirt pimp.

Did you see the printed version of that article? The 'Homes' section of the Sun used to run in two thick sections. The day that article was printed, it was a single page. One frickin page. Realtwhores and develuppers don't even think the advertising will pay for itself. LOL.

Don't like the 'negativity' here? Go peddle your fairy dust and sunshine to all the other The Secret readers in denial.

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Supraboy

Check this out:
http://www.canada.com/vancouversun/news/westcoast…

People have cash and are ready to step in and lift the markets. You snooze, you lose, better start buying real estate now guys.

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Anonymous

"Who cares about the sub-agents, they’re like parasites trying to leech off others. They’re just a bunch of kids out of university with nothing else better to do in life."

Leech off others???? What was that again about the pot and the kettle? Oh, that's right. Sub agents leech of complete strangers and you leech off your parents…. That's a big difference. Boy, you are a piece of work.

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Supraboy

Hey Realpaul,

Who do you know personally that's being spot checked? Is that a myth of yours? Why don't they come and spot check me? I pay my taxes every year. So now that I'm making money off my property, Revenue Canada's going to give me a spot check just because those fat pigs have nothing else better to do? Well bring them on since they're using my tax dollars, perhaps they'll spot check me and give me tax returns while they're at it.

Who cares about the sub-agents, they're like parasites trying to leech off others. They're just a bunch of kids out of university with nothing else better to do in life.

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realpaul

Well you know the old saying, : A couple of dim sum queens doth not a market make".

Arit, good calc, don't forget to inc the prop taxes and maintenance. I've also been made aware that Revenue Canada is 'trolling' for revenue property income tax evaders. Inspectors are doing spot checks. Many 'landlords' are getting audited as we speak. Maybe we can forward Supra Boys rants over to them. There has been a boom in the repo business lately.

A fellow I know has suggested to me that the number of real estate sub-agents ( salespersons)is dropping like a stone. I'm trying to check into what the actual numbers are in real time.

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Strataman

Supraboy Says: "You guys are spreading too much doom and gloom here. Everything here is so one-sided." Strange comment when you consider this little blog is a voice in the wilderness inhabited primarily by independent thinkers. You would give your opinions credibility IF you were to indicate that that MSM had for the most part if not entirely been one sided for the last five years. Maybe a quote from a letter or cooment on an MSM blog roll / comments section where you severely chastised them for their fraudulent one sided aspect would be in order. If you do that possibly your opinion is of some weight. If you cannot prove that then please STFU. 🙂

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tercelboy

In the late 1980s, Internet users adopted the word “troll” to denote someone who intentionally disrupts online communities. Early trolling was relatively innocuous, taking place inside of small, single-topic Usenet groups. The trolls employed what the M.I.T. professor Judith Donath calls a “pseudo-naïve” tactic, asking stupid questions and seeing who would rise to the bait. The game was to find out who would see through this stereotypical newbie behavior, and who would fall for it. As one guide to trolldom puts it, “If you don’t fall for the joke, you get to be in on it.”

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Supraboy

You guys are spreading too much doom and gloom here. Everything here is so one-sided. If you would pull you bear head out of the cave, you'll see light at the end of the tunnel. About the SOLD sign, there are private sales all the time, you don't need SOLD signs to confirm that people are still buying. I'm sure there are real estate being sold every hour and the rich Chinese people will continue to jack the markets up. Even if they're poor, as long as they continue to flow into Vancouver, they'll create a healthy rental market. Population growth creates demand. A 650k house 7 years ago is now worth easily over 1.4 million, even if I factored in a 5% drop in housing, I'll still be up. The house I have right now is rented out for… Read more »

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tercelboy

Canadian retailers face a bleak 2009

December 29, 2008 8:30 AM

TORONTO – Malls across Canada teemed with shoppers this past weekend, enticed by boxing-day discounts that were even greater than usual after Christmas.

But while first impressions of Boxing Week sales are optimistic in terms of volume, the heavy discounting putting pressure on margins together with depressed demand in the forecast suggests Canadian retailers may be about to join their U.S. counterparts in what looks to be a bleak new year

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NO -LYMPICS

He might be a re-incarnation of John after he sold his increasingly valuable SUV collection.

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BTW:

Still haven't seen a single " SOLD " sign since the last one I mentioned a couple of weeks back.

Must be the snow and Rich Asians with summer tires on their Mercedes and BMW's not able to attend the open houses.

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