“Vancouver’s Best Realtor” leaving town
Local Realtor Paul Boenische has been providing daily statistics for the lower mainland market since the end of 2007. In 2008 he won the Georgia Straights reader choice award for “Best Realtor”. Many of you have read his blog and seen his comments on other sites (like this one) under the name PaulB, so it is sad to see that he is leaving Vancouver for the improved quality of life in PEI.
We initially were interested in Charlottetown because we have some family there, and after researching it and visiting PEI, the vastly improved quality of life is what convinced us. Sandra and I want to have the time to be very involved in the lives of our children, and PEI is affordable as well as being beautiful.
I will miss the opportunity to work with many of you. I always got a kick out of meeting the person behind the avatar. However, I look forward to selling real estate in a market where I can more easily see value for the dollar. Selling first-time home buyers into a 200k house will feel good compared to the recent speculative mania that has infested BC real estate. And when you toss in beautiful beaches and the best golf in Canada it all made a tough decision a little easier.
You can read the rest of his farewell message on his blog.
I skipped town during the ‘Best of Vancouver’ awards party, so I never got to meet you Paul. Best of luck with your move, I hope that you will keep us updated on how you and your family are enjoying your new home.
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February 11th, 2009 at 1:26 pm
Thats great I’m done with BC too, I am also moving to PEI this summer its the new “Best place on earth” I will have to get in touch with Paul when it comes time to buy.
February 11th, 2009 at 1:48 pm
I was on PEI for the first time a couple of years ago. I loved it and considered the possibility of moving there. If you don’t have to work or you can find a way to earn a living there I’d say it’s a brilliant choice.
February 11th, 2009 at 1:48 pm
i think that you are going to see a mass exodus of realtors leaving town for one reason or another
theres has to be a lot of pissed off and massively underwater buyers out there that they will not wish to encounter going into the future
February 11th, 2009 at 1:54 pm
No more daily stat updates? What a bummer. Oh well, this bubble is doomed anyway, we’ll just have to make do with monthly updates.
February 11th, 2009 at 2:34 pm
Good point squiddly 77.
I wonder how many purchasers had some “fresh out of RE school” newly licensed realtor convince them
–this is a world class city
–buy now or forever be left out
–Vancouve real estate never goes down
–blah blah etc. etc.
Yeah, I know it’s “Buyer Beware” and no one held a gun to their head.
However, a lot of people will see this as white lies, the mantra book of the REBGV cult members….they are in debt for years to something that has perhaps lost original value and some of these parties may go postal.
======
ALSO:
Funny how the people’s choice of ” best realtor” wants to pack up and leave ( almost as far away as you can from this BC Market…,)….you would think we need them here more than ever to help separate the wheat from the chaff.
Who is left to fill the void ?
February 11th, 2009 at 2:34 pm
Closer to Obama-town too! Good move for everyone happy time in PEI!
February 11th, 2009 at 2:36 pm
What PaulB is really saying is this
1) I’ve got no listings, the ones I did have expired unsold and I’m going broke.
2)The cost of living in BC is killing me and if I don’t get out of here soon I’ll be on welfare
3)I’m not qualified for any kind of employment.
4)I want to get out before the people I sold condos to last year find out where I live.
5)People simply aren’t believing my bullshit anymore and my email is full of death threats and sincere hate.
6)No one knows me that far east and I can get a new phone number under my wifes name without it popping up on the criss cross directory.
7)It’s the end of the road for the real estate buisness in Vancouver, I can’t make a dime.
9) Theres trouble in paradise and I don’t want to be around for the final act.
10)I can try to retrain as a croupier and try to see if theres work in a NewFoundlands Native casino.
11) My wife has been seeing another guy with a real job.
February 11th, 2009 at 3:20 pm
realpaul: What’s with the personal attacks? You obviously see the term ‘Realtor’ and you fall into a frenzy of insults without thinking things through. Did a Realtor kill your parents or something?
Read his blog and comments, Paul has always been incredibly honest. Not only saying that Vancouver was at a risk for a housing correction (before the market peaked), but putting in extra work to openly share market statistics that the REBGV does not make available.
So what’s your problem?
February 11th, 2009 at 3:31 pm
NO -LYMPICS: To believe idiotic arguments, you need to be an idiot. Buyers who bought into any of those arguments did so out of greed or fear, without thinking things through. What difference does it make if it was a new realtor, a thousand year old realtor or a talking dog that convinced them of it?
Funny how the people’s choice of ” best realtor” wants to pack up and leave ( almost as far away as you can from this BC Market…,)….you would think we need them here more than ever to help separate the wheat from the chaff.
Yeah, Vancouver NEEDS a lot of things, but that doesn’t mean it’s someones responsibility to stay in an overpriced city just because they can help others in the future.
Everyone is responsible for their own lives. Moving away from an expensive city with plummeting property values and a declining quality of life doesn’t sound like such a bad move to me.
Myself and many others appreciate the extra work that Paul put into sharing market stats, but just because he was willing to do that for more than a year doesn’t mean he’s obligated to continue ad-infinitum.
February 11th, 2009 at 3:38 pm
i hope that no one takes my earlier post as a personal attack as that was not the spirit of my post
people being people tend to blame others for there choices
and what i posted presented a very real possibility
February 11th, 2009 at 3:59 pm
i can not speak for your real estate board in vancouver but here in calgary the realtors made some outlandish claims
and made statements that would never be true they basically lyed
no they never held a gun to peoples heads but they sure made some threatning statemnents such as:
buy now or be priced out for ever
parents you had better lend your kids downpayments on homes now as this may be there last chance to get in
there were to many more to mention..and yes most people picked up on the spin and just brushed it off
however some may have bit and the funny thing about this world is what goes around comes around every single time
here in calgary we have what i am sure are some very fine realtors but there is also scum amongst them and since the various boards refuse to police there own members they all get painted with the same brush and its a very dirty brush
the hatred of the nar in the USA is everywhere i also have family in england who tell me that there estate agents are held in contempt
so you reap what you sow
February 11th, 2009 at 4:01 pm
VANCOUVER IS PROTCTED BY NATURE
If realtors think home prices should start from 200k then majority of people will never buy any real estate,think about sitting out dumbs those gamblers and people like ozzie help pile up teams of cheaters who enter and exit at specific time given by knowledge.
There is a saying “if monkies ever come to know how to light a fire they can easily put this world on fire” so if anybody who think they can knock down the top prices from Van.R.E.Move to PEI right away and save your time and occupations from trolling in the blogs because hey VANCOUVER REAL ESTATE NEVER GO DOWN Sales are most important for realtors occupation but not for the owners of principle residence at easy convenient location that’s why Vancouver real Estate is protected by it’s nature.
Bye Bye Paul and Good luck PEI.
February 11th, 2009 at 4:02 pm
I’ve had it.
What was once mildly amusing is now consistantly mean spirited with the verbal stupidity of the terminally depressed.
Dislike the man and defame him in public because he had the glaring audacity to offend you by making his living as a realtor?
I don’t need this chit. Have a good day, although thats obviously impossible.
February 11th, 2009 at 4:10 pm
Pope:
Now now now..
I was reacting more to realpauls post in “tongue and cheek fashion.”
PaulB will obviously be missed by many . He should take that as a compliment. Best wishes to him and his future endeavours. PEI now looks intriguing (and here I thought it was only good for Stompin Tom and potatoes).
BTW: I would trust a thosuand year old realtor that looks like a dog far more than a new buck any day !!!
February 11th, 2009 at 4:18 pm
Whereas Paul worked his career with integrity and had NO QUALMS about attaching his name to the material he supplied to the public at no charge the peanut gallery here spews hateful vitriolic rubbish towards him while carefully hidden from public view.
Given the choice I would shake Paul’s hand and cross the street to avoid shaking the hand of some utter dummies posting here.
February 11th, 2009 at 4:21 pm
Paul and his blog will be missed. Too bad for me and for many other bears–one day, when I’m a bull, I was hoping to buy through him. I can only hope that some other straight-talking, honest, and “no-bull” real estate agent will step up and fill the void he leaves behind in the Vancouver blogosphere…
February 11th, 2009 at 4:26 pm
As much as I argue and troll around here, it really sucks to see Paul go. His blog has a lot of useful stats for me to argue for and against the real estate bubble. Oh well. PEI looks really attractive compared to Vancouver. For half a million, a mansion, geez……..I’m speechless.
February 11th, 2009 at 4:30 pm
FrikkinDopes: He is not just moving to pei but he has put his thought for success of his occupation “Selling first-time home buyers into a 200k house will feel good compared to the recent speculative mania that has infested BC real estate.”-Paul.
What would happen if value goes up beyond 200k?
February 11th, 2009 at 4:47 pm
I find it interesting that this contributor is “escaping” to PEI.
I was born and raised in Vancouver, but I did live full-time on PEI from 2000 to 2007.
If Paul B. has a lot of money in the bank, and makes more than one significant real estate purchase, he will be tolerated despite the fact he is “from away”, maybe even respected. Bonus points if he is a regular church-goer.
The most important thing going for him is that he has family on the Island. That is more valuable than any amount of money or honours. It is the key to surviving in this place.
Personally, I became quite ill after five years of Island living. Was it the record concentration of pesticide use in agriculture? Was it the contaminated water? Was it the absolutely staggering amount of furans and dioxins escaping from the stack at the “waste-to-energy” plant in Charlottetown? I don’t really give a damn at this point. I quit a good-paying job and literally crawled back home to my old neighbourhood on my hands and knees. I will have health issues for the rest of my life, but I daily give thanks that I am back.
P.S. The only time I owned real estate was on PEI. Get ready for some killer electrical and oil bills. And some truly incompetent “contractors”.
February 11th, 2009 at 4:48 pm
As I said on the previous thread, I will eternally be indebted to such individuals as PaulB for saving my HUNDREDS OF THOUSANDS of $$$ in principal and interest payments. I thank him and wish him and his family all the best wherever they choose to live.
I will always remember PaulB as a generous, level-headed individual whose work helped out more people than he will ever realize.
Thank you PaulB from the bottom of my heart and may the force be with you.
February 11th, 2009 at 4:59 pm
God, I just noticed Paul B.’s comment:
“However, I look forward to selling real estate in a market where I can more easily see value for the dollar. Selling first-time home buyers into a 200k house will feel good compared to the recent speculative mania that has infested BC real estate.”
200K???? First-time buyers?? Who does he he expect to be selling to? Equally clueless foreigners?? That’s freakin’ inflated even for Charlottetown (pop. 35,000). Check the MLS (which only lists the asking price, not the getting price) if you don’t believe me.
A few gormless rich Chinese immigrants were paying cash for homes and were taken in completely by the crafty locals under the auspices of the Immigrant Investor/Provincial Nominee Program. The biggest scandal to ever hit PEI when it finally went public after years of whispered rumours.
http://www.cbc.ca/canada/princ.....otest.html
That’s the Island way, welcome ‘em from away and proceed to fleece!!
I think the $200K RE customer base on PEI just took a biiig hit.
February 11th, 2009 at 5:19 pm
The Pope:
I worked with thousands of realtards over the 2 decades I did in that sordid biz and have never met an honest one when the chips were stacked against them. Its all smooth sailing until it’s at issue between you and them. Thats an insiders POV.
You have no idea want goes on behind closed doors down at the Board arbitration offices when these dipshits ‘career goals’ get in the way of ethics and morals.
Unfortuneatly some people just have to have some thread of belief to keep themselves sane. heres the new motto for the real tard industry. When the chips are down, trust no one, most of these crackheads will sell thier mother for a commission. The sad reality is just human nature excercising her right to cull the weak, the meek, and the all effed up.
Anyone wants to defend one , go ahead, I’m keeping my hands firmly clamped over my wallet.
February 11th, 2009 at 5:37 pm
Supraboy Says:
“As much as I…troll around here”
The fact you finally admitted you’re a troll, has made my day. Thank you Troll.
Anyone see the news today that Canada has a trade deficit, first time since March 1976.
As for Paulb, sucks. He’ll be missed, this feels like a funeral or something. Hopefully he continues to blog on here. I’ve always liked his posts.
February 11th, 2009 at 5:44 pm
PaulB is a classy guy despite being a realtor
I wish him well in PEI. Thanks Paul, for all the addictive stats. 
CPPC, has some valid points about Atlantic Canada. High heating costs partly eat up the real estate savings, and many homes are old and requiring work.
Paul, if you love Sushi or any quality Asian food, you will probably have to drive down to Halifax. Not to mention any big shows etc. Island life is slowwwwww.
Unlike many realtors, Paul seems to have other skills like running that website. If the real estate scene is crowded, I’m sure he will find some other business niche.
And agreed, having family there is the ticket. Even then, there is a constant struggle for decent paying work.
The main reason I understand Paul’s move is due to his children. The gangland headlines over the last few weeks made my Wife (a Newf) have me promise her that we’d get out of the Lower Mainland before we started a family.
Hearing that Vancouver has more gangsters per capita than any other city in the WORLD, has ended my desire to stay here (in the city where I was born and raised).
The crime added to the poor career prospects, added to the housing issues we all know so well, equals no more desire to stay here long term.
Vancouver is done, its wrecked
and I will go someday too.
February 11th, 2009 at 5:51 pm
A void has certainly been created with Paul no longer supplying his much appreciated stats. There’s an opportunity for an ‘honest’ realtor to step up to the plate. If someone were to supply the daily numbers in an easy to understand format and let the stats speak for themselves. No Bull. No Bias. All of the number junkies would visit the site religiously. Where else are they going to go now that Paul has left the building?
February 11th, 2009 at 6:46 pm
Rich asians don’t like PEI so I see no reason to move there. This is where the action is right here in the best place on earth. Nothing but potatoes and weirdos in PEI.
February 11th, 2009 at 6:49 pm
and after researching it and visiting PEI, the vastly improved quality of life is what convinced us.
Wow someone comes out and states the obvious.
It’s just appalling how much the qualify of life, and may I say the quality of people, in Vancouver has declined since the 60’s and 70’s. The city really used to be a nice place. And yet in those days nobody felt the need to trumpet the quality of life – they just lived it.
Maybe the next edition of the “best place on earth” license plates can have some bullet holes stenciled on to give that “edgy” look.
February 11th, 2009 at 6:53 pm
True.. I am working on leaving this mess here too.
Vancouver is destroyed. Once I have a bit of experience in the health care field I will get the hell out of BC too.
Let the realtors and specuvestors have the place, let them play tit for tat, tat for tit.
I wish I could get out of BC before the olympic joke starts.
Good luck.
February 11th, 2009 at 6:58 pm
I will certainly miss Paul. Checking his site everyday was part of my routine every morning.
I’m not sure if he’ll enjoy living in PEI, though. If you are a true Westerner (like me), the east is quite “different” in many ways.
Good luck, Paul!
February 11th, 2009 at 7:09 pm
For those who defend a realturd who jumps ship when the going gets tough, ask yourselves one thing; How often did this guy spew the typical propaganda about Vancouver prices only going up, the Olympics are coming, the best place in the world……..etc, etc.
Now, when the going gets tough, the Realturd decides to find another market, possible a future bubble. It all boils down to ethics, honesty and credibility. This realturd is no different than the rest. He knows it and that is the only reason he is trying to start with a clean slate.
February 11th, 2009 at 7:34 pm
oh crap, for the whole of the comments I thought I was reading about Chipman leaving. Freudian slip.
Now I feel bad that Paul is going.
Good luck on the east coast!
February 11th, 2009 at 8:08 pm
26 john Says:
February 11th, 2009 at 6:46 pm
Rich asians don’t like PEI so I see no reason to move there. This is where the action is right here in the best place on earth. Nothing but potatoes and weirdos in PEI.
==============================
But John:
They put the P E I in PEpperonI .
The SUV’s run on potato hooch.
More Rich Asians per capita than the North Pole .
What more could you ask for?
February 11th, 2009 at 8:24 pm
If you go to the new mls.ca, you can type in a location like Vancouver and it will total up all the listings for what is on the current map view. On the left is a zoom scale.
If you add up (residential unless indicated):
vancouver[10] + whistler[10] + port coquitlam[13]+maple ridge[12] +pitt meadows[12]+squamish[11]+ vancouver[10,land]
you get: 12072+518+620+1035+558+286+455 = 15544 which is close to last Paul b’s inventory number.
The number in the [ ] is the zoom scale used for that location name (1 = bottom step = large view).
It isn’t perfect as Paul counts land from all areas and the above also includes a bit of surrey and has some overlaps.
But it is roughly calibrated to Paul’s areas so it should be possible to track inventory this way and because of the calibration, rough comparisons with Paul’s old data would not be entirely devoid of information.
February 11th, 2009 at 8:26 pm
Thanks guys! It has been a tough decision to leave. We went back and forth many times over the last year finally committing to give it a go.
The major reasons for us to go were; some family (my mom), a safer and less cosmopolitan environment to raise our kids, and affordability. Sandra and I can work PT without money worries.
Another key reason is that we are both born and raised in Vancouver and desperately need a change. We’re bored with the day to day and maybe this is the answer… Maybe not?
February 11th, 2009 at 8:29 pm
Hey no E on Boenisch!
February 11th, 2009 at 8:38 pm
Thanks Paulb for all your hard work and honesty … If I’m ever in PEI golfing I’ll look you up.
cheers
February 11th, 2009 at 8:46 pm
That’s a shame. I knew who I was going to eventually buy a place in North Van from in 2012.
Good luck Paul.
February 11th, 2009 at 8:59 pm
Paul was our favourite realtard. We were going to kill him last. Not much meat on his bones though as we were never buying. ha ha
just kidding. irony
February 11th, 2009 at 9:10 pm
http://www.vancouversun.com/Ho.....story.html
Good time to buy!
February 11th, 2009 at 9:11 pm
ok so now you have a realtor bragging that he can work part time and enjoy his family..where do you think (if he has any) his money came from
i am sorry if i sound harsh and i know that i am in calgary and that this is a vancouver board..but the reasons that both our cities are in a total mess has been partially due to realtors and there like stating lies and distortions
they used and abused people for profit
they lied..they said prices up up and away to the moon
you cant lose in real estate blah blah blah
he used vancouverites for profit and you guys are buying it
he doesnt care about families losing there homes
he doesnt care that pensioners had there rent raised so high that they could barely afford to eat (could have been your parents)
he doesnt even care about vancouver as he prefers to bash your city on his way out..see him for what he is
hes cut and run
bashing you and bragging as he goes
February 11th, 2009 at 9:20 pm
squidly77,
Even in a market like this, there are ethical transactions, such as people moving slightly up or slightly down.
How do you know what he cares about?
Anyhow, he has provided stats that been very useful for us skeptics, and I believe he did so to the displeasure of other realtors.
And what he said about Vancouver is quite mild. This place really is going to hell.
February 11th, 2009 at 9:24 pm
Paul, will miss your stats and posts, but I’m afraid you will be back. If you are an outsider the Island can be rather insular unless you can sing and dance and put away a lot of moonshine. Sort of like the Ozarks. After five years on P.E.I. I had to get back to the Pacific Coast, or go stir crazy. What you will save on mortgage payments will be eaten up on heat and taxes. Potatoes and Lobster can get tiresome. See you on the North Shore in 2012!
February 11th, 2009 at 9:30 pm
PaulB says about his leaving…
Another key reason is that we are both born and raised in Vancouver and desperately need a change. We’re bored with the day to day and maybe this is the answer… Maybe not?
Oh, it’s the answer right now, Paul. The Maritimes have the Ocean and beautiful beaches, and better yet … there is a rich history – we, on the West Coast don’t have that kind of story to tell.
I am so sorry to see you leave. You reached into a lot of people’s heads around here; your daily numbers and raw data/graphs helped to counter the MSM spin and hype. Your integrity will be missed, greatly.
All the best to you. Have a wonderful adventure with your family:)
February 11th, 2009 at 9:31 pm
he paid dues to your real estate board
he fully supported what they said
and i fully expect to be voted down by 998 votes as your board has completely forgotten what they have done to your city
ask yourself some questions..why did you not hear from him until the price run up had stopped in late 2007..where was he in 2004 when pensioners were forced to move due to rising property taxes..the same pensioners that lived and supported vancouver there entire lives
where was he when families were signing on for $600,000 mortgages ruining there lives
heres your answer..he was out selling houses and supporting his real estate board
February 11th, 2009 at 9:32 pm
It’s just appalling how much the qualify of life, and may I say the quality of people, in Vancouver has declined since the 60’s and 70’s.
I’ve been saying it for years. Born in Vancouver. Left when young, moved back as a young adult. Finally left in 2007 after thirty years plus.
imHo, the changes are irreversible. The city’s reputation persists, which is why many still want to come here. But the reputation is no longer warranted. We will never again see a Vancouver where the quality of life approaches that of the sixties and seventies, because we will never again have a population whose values reflect those of the sixties and seventies population.
Greed destroyed the city.
The biggest mistake we made was letting anybody outside the city know that it existed. In this regard, Expo 86 was a huge blunder. Wanting to host the Olympics was another blunder, but for a different reason … it was completely driven by greed. Not just the developers, but the “I voted Yes” crowd who thought they would get “something for nothing” when the federal government and industry kicked in all that money (what money?) to build sports facilities. So boys and girls, did you get something for nothing?
Greed, greed, greed.
February 11th, 2009 at 9:40 pm
squidly77 Says:
he doesnt even care about vancouver as he prefers to bash your city on his way out..see him for what he is
hes cut and run
bashing you and bragging as he goes
squidly77,
You really have to take a deep breath.
February 11th, 2009 at 9:57 pm
talking about being smooth he even has you guys bashing your own city….why would you do that ?
vancouver is a great city
i worked at VSY for 11 months in 2000-01 and lived in north van..its a beautiful and wonderful place to be
how do you become so manipulated by a guy that feeds you some silly daily stats that you would bash the city that you live in ?
realtors are in it for themselves and themselves only and they dont give a hoot about you..call me a prick but if you wont stand up for your own city i and others will
February 11th, 2009 at 10:11 pm
pope
its an open board and i am sure that i am pushing it..but
how does anyone really know if he has not lost his shirt and
is moving back to mom and dads basement (i know he claims hes from vancouver) do you trust him because
hes a realtor
February 11th, 2009 at 10:16 pm
squidly77 Says:
talking about being smooth he even has you guys bashing your own city….why would you do that?
Hey squidly, I’m almost 60 years old, born in Vancouver, raised on the Island. This ONCE was a great place to live. It’s now an Asian Theme Park, and it little resembles the character that made this a cool place to live.
It’s not greed, it’s called Globalism. It’s a social engineering construct that basically annihilates anything that resembled “home”.
And I can guarantee that realtors did NOT create this human experiment.
February 11th, 2009 at 10:19 pm
squidly77: Do yourself a favour and read his blog and some of his comments on other bear blogs before you bash Paul further. Lumping together everyone from a specific occupation is blatantly ignorant and a waste of everyones time.
Good luck with the change Paul, I understand the boredom.
February 11th, 2009 at 10:26 pm
i never bashed him..only his occupation
February 11th, 2009 at 10:36 pm
“Paul, if you love Sushi or any quality Asian food, you will probably have to drive down to Halifax. Not to mention any big shows etc.”
Good sushi in Halifax? Where would that be? There’s a couple of decent Indian places though.
Atlantic Canada is a great place to raise the family though. Just be prepared for November-to-May winters with endless icy snow.
February 11th, 2009 at 10:44 pm
the comments along the lines of “i can’t believe how much vancouver has changed since 19…” are just amazing. how small minded. my family has lived here since my grandfather arrived in 1906. the city has changed, as all things do. all things that are alive in any event. vancouver has become more and more interesting in my opinion. there is more culture then there was before – better restaurants, art scene, nightlife – it’s not ny, paris, london, or toyko but vancouver has a lot going for it. i’m not a rah rah vancouverite either. i left to live in london, uk for a year ‘cuz i was so bored with vancouver at one point. when i came back i certainly had an appreciation for the quality of life here, along with the realization that we are still a young city in a relative sense.
perhaps the commentators who don’t want anything to evolve should crawl up in a little ball and start sobbing for their mothers to come back and nurse them. how pathetic. if these same people were parents in the 50’s they would hate elvis and long for frank sinatra; if parents in the 60’s they would hate the beatles and long for elvis, etc, etc. try living in the present for a change. you may shake off your bitterness and maybe enjoy your lives.
February 11th, 2009 at 10:45 pm
squidly77:
Eggggsactly. I posted a challenge that splayed the tricky dicksters facade of the realtard wide open, it was poignant and diggety, you would have liked it , but the Popester decided to censor it out. Hard nasty truth is sometimes uncomfortable.
Look here it is, a realtard will try to develop a shtick, some deliver pumpkins , others make like they’re your educated ‘friend’ in the buisness, others pretend they’re interested in the community, others send you cards and fridge magnets with occasional goo goo visits (just to see how you are) etc etc ad nauseum.
The truth is that they are trying to groom you like a child molester ‘ eductates’ his victims. They are setting you up, using you like a fresh slice of meat. You are nothing other than a prospect meat sandwich.
The good cons victims always trust the conman and thats why they’re so crushed when the fairy dust wears off.
Heres the bottom line :
Rule # 1 You can’t trust a realtard any further than you can throw them down the stairs.
Rule #2 Always refer to rule #1 when a realtards blazes his/hersalespitch and starts to work on you.
These guys practice sleaze and go to seminars to learn to fool the sheeple. They come home with tactics that they will use against you. The famous trainer Mike ferry was an expert con man and he had more hustles than a stripping hooker on a slow Thursday.
A real thrill for any of you who think that there might be some humanity in these weasels would be to go drinking as an industry pro with a bunch of these shits.
You’d soon get your illusions shattered or bolstered as the case may be as they relate in thier laughing way at how they screwed this guy, that mother, thier mother, thier nieghbours, the little old lady down the block and what a desperate piece of crap you were when they stuffed the pen into your shaky little hand at your own dining room table.
They’re laughing hyena act would give you nightmares. I could handle these pukes in suits only because I’d worked on the VSE stock market floor as an East Ender kid and new what sleaze was all about.
So , no Pope , a realtard didn’t do the nasty on me, I just happen to know more about realtards than you.
February 11th, 2009 at 10:51 pm
Wow, anyone that calls Vancouver an “Asian Theme Park” is quite the tool. It’s the sort of ignorant comment my co-workers used to bandy around at work in Charlottetown.
It seems as though a few of the posters are from Atlantic Canada originally or other rural parts of the country. Many of the comments, such as “this place is going to hell” or “this place is so destroyed”, please pardon if I offend, are really projecting a rural or hinter-suburban viewpoint.
During my days on the Island, I listened to seven years of PEI-boosterism, which an open-minded Islander would agree can be way too uncritical, but what really killed me was the constant bashing of other places to help sustain the “PEI is No.1″ mantra. Any city (esp. one of the big three) was a godless sodom and gomorrah, filled with “orientals” and gangsters. Of course, you were guaranteed to be killed within hours of leaving PEI, unless you stuck to the well-worn “safety” triangle of Victoria, Ottawa & Halifax (god knows why these places were OK). Alberta was the “promised land”, PEI with money, despite the fact most native Albertans seemed to look down on Islanders as cheap, exploitable labour. And let’s not forget religion. It ain’t that easy to be an atheist on the Island.
All I’m saying is, everyone (myself most definitely included) needs to take into account how their upbringing may have influenced their experiences and resulting attitudes about geography and people in this vast country of ours.
In closing, it comes down to each to their own. I’d rather risk the remote chance of death by a bullet in Vancouver than the gauranteed slow death that Island living was for me.
February 11th, 2009 at 11:16 pm
Jeff left, then paul. Those honest realtors had provided our bears a lot of insights which break the Vancouver RE mystery.
I think one of the main issues of Vancouver RE is TRANSPARENCY. Most of the realtors take the advantage of the buyers/sellers by information monopoly. Those information should be public, and that mls database internals of the people by the people for the people, shall not hide from our view.
I would suggest that our bears provide an incentive to the realtor who can pick up paul’s torch: use him/her as your buying agent when you think the buying condition reaches. This way, we may get better transparency, and save some expenses as 1) no bubble prince, 2) the realtor can yield a portion of the commission as he/she may have a lot of buying cases lined up. With the transparency, those fallacious realtors, speculators, developers would not be able to play an easy game on us.
Rob C starts to post some stats too. Let’s monitor how it goes.
February 11th, 2009 at 11:21 pm
vancouver is a great city
i worked at VSY for 11 months
Great place to visit, which is what you did. If you live and work in Fort Mac, Vancouver is also a better place to live.
But if you’ve known the city in its former glory, you mourn its loss. After 30+ years in Vancouver and 1-1/2 years in Calgary, I prefer Calgary to Vancouver. No beaches, no greenery, but somehow better. Calgary has a pretty large number of former Vancouverites who wouldn’t move back.
February 11th, 2009 at 11:34 pm
“The poll found that some 71 per cent of respondents said it is a somewhat good or very good time to buy real estate.” hahahaha never underestimate the level of kool-aid drinking in this city
February 12th, 2009 at 12:07 am
The market picks up before spring comes. More and more immigrants arriving every day and they have cash to buy houses in Vancouver West. Americans are buying also to put their money in safe Canadian dollors. They not worry can find no jobs boom times and recession. 10 years later, BOOM, the market goes up and they make 300% profits.
February 12th, 2009 at 12:23 am
Uh, Thompson…
Hate to break it to you but immigration to Vancouver is at some of the lowest levels in history, and about half what it was during the nineties.
http://cuer.sauder.ubc.ca/cma/.....couver.pdf
February 12th, 2009 at 12:47 am
carpenter:
the city has changed, as all things do. all things that are alive in any event. vancouver has become more and more interesting in my opinion. there is more culture then there was before – better restaurants, art scene, nightlife
Jimi Hendrix used to play on Davie Street you know. How about “Jaques Brel” with Ann Mortifee, Brent Carver, etc.
The 60’s and 70’s saw a lot more real, live, spontaneous culture than the snooty, pretentious crap that gets served up today.
I agree there are more good restaurants now but BFD. Chinatown used to be a fun place to go to eat, not somewhere you’re afraid to visit because you might trip over a body on the sidewalk or have your car broken into.
The whole city had a bit of a rough edge and was provincial but it had real charm and character, rather than being the pseudo-global metropolis of Starbucks, monster houses and clone condos that we have today.
It also had people who did real jobs like working in sawmills and iron works and building ships and things like that, rather than a work force that seems to just sell things to each other or peddle the city to foreigners.
Much of this decline is common throughout Western society, but it is particularly evident in Vancouver due to the city’s massively inflated self-image and de-industrialization into Canada’s purest bubble economy.
February 12th, 2009 at 12:48 am
Why worry about gangs? You have a vastly greater chance of dying in a car accident than being shot in Vancouver.
That said, I would have left Vancouver years ago if my job wasn’t tied to it, just to escape the insane housing prices. Thankfully, that’s finally changing.
As Can’s Poorest Postal Code says, however, there’s more to PEI than a beautiful countryside, which it has. Winters are brutal, and people are far from cosmopolitan in their views. Throw a stick in any direction and you’ll likely hit a church.
But I wish Paul and family all the best. It’ll be a grand adventure, and that’s its own reward in this life.
February 12th, 2009 at 6:20 am
realpaul: You’ve clearly been running with the wrong crowd. I hope the next chapter in your life includes more decent types. There ARE decent people out there, don’t give up.
February 12th, 2009 at 8:11 am
realpaul: I’ve restored your comment so you can’t play the ‘censorship hiding the truth’ card. I removed it because I thought it was a needlessly personal insult, but I’ll let the rest of the readers decide.
So you had some bad experiences with realtors, and now every single one is a crackhead? I would suggest that it is human nature to get as much as you can no matter what occupation. the problems you had have as much to do with the fact that you were dealing with humans as it does with realtors. Cops, Lawyers, Doctors, Teachers, Preachers, Politicians, Realtors – there are bad examples in every group. Shall we get rid of all those occupations?
At what point do we put the responsibility for buying on the buyer? What is this Machiavellian mind-control power that realtors seem to have in your mind?
Jeez. I can’t believe I’m defending salespeople, but seriously, do we need the personal insults against someone you know nothing about? You obviously have a brain, why not stretch it and drop the use of the crutch-word insults like ‘realtard’ and ‘realturd’. They may be clever the very first time you hear them, but clever has a tendency to wear thin with overuse.
February 12th, 2009 at 8:56 am
I’ve lived in Vancouver for most of my life but mostly just during the week half the time but still. Anyway I have to say that Vancouver is really the best place on earth. There is no other city in the world that has specifically designed traffic patterns to be so functional at all times of the day. No other city in the world has such an expensive and well thought out mass transit system. No other city in the world consumes so much peperoni or drives this many SUVs and lives in so many condos or has so many rich asians. Vancouver is the jewel on the crown of the most beautiful and vibrant cuntry in the world. BTW PEI is a dump.
February 12th, 2009 at 9:00 am
patriotz:
I agree Patriotz. Vancouver doesn’t have a productive economy any more. The real-estate bubble masked a lot of underlying problems, like 20 years of stagnant wages, and let people avoid the tough financial decisions.
It’s going to be extremely painful to turn the ship around and build a real economy here, but it can be done. But Vancouver will be dragged kicking and screaming all the way.
February 12th, 2009 at 9:03 am
john:
I know most people don’t get it but John is one of the most consistently funny posters.
February 12th, 2009 at 9:07 am
calgarys busted
Current foreclosure listings are as diverse as the market itself: inner-city condos, old bungalows, three-year old houses in new neighbourhoods, and mil-lion-dollar properties. There are 13 foreclosures in one condo complex alone.
http://www.calgaryherald.com/H.....story.html
and so it goes..
February 12th, 2009 at 9:10 am
“I know most people don’t get it but John is one of the most consistently funny posters.”
It’s not that hard to get. Bit repetitive, though (gets boring). But this:
“No other city in the world consumes so much peperoni”
Please, let’s change our license plates to reflect this!
February 12th, 2009 at 9:20 am
I love John’s posts; thanks to him I have made boatloads stockpiling SUVs, pepperoni and condos!
February 12th, 2009 at 9:22 am
http://www.theglobeandmail.com.....uery=mason
Interesting change of tone. So far so good in ensuring taxpayers are on the hook. I still wonder how they can reconcile the construction cost per square foot versus what market rate per square foot will yield, but I suppose that is a secondary consideration. It is the olympics after all. Nice one year send off in the media this week.
February 12th, 2009 at 9:30 am
(It should be said though that some praise is deserved for saving taxpayers some interest. This is probably enough candy to mute things for now.)
February 12th, 2009 at 9:32 am
“John is one of the most consistently funny…”
I get that it’s parody, but it’s so consistent that the schtick got old quickly. I laughed at first, now I just skip his posts. Verbal white noise.
February 12th, 2009 at 9:38 am
Another one bites the dust. It does seem odd to me though that on the brink of a total collapse here he’d be moving partly because of the more reasonable real estate prices in PEI. I think perhaps he knows the next 2-3 years will be very dry ones indeed for real estate agents here so now is the time to get out.
Here’s looking towards the day when the $550,000 house in Vancouver looks a lot more like the $550,000 house in PEI.
Is it time for another predicting the future thread? Maybe I’ll post one in a couple of days if nobody else does. For the record, my prediction stands, that is:
A slight price bump lasting 3-6 months
A pretty sharp drop in summer/fall for a total loss in 2009 in the 15-30% range.
Same basic pattern over the next two following years, things level off in the spring a little only to lurch downwards in the fall (though the bump won’t likely be as large as this year’s and the fall might not be as big either)
Late summer or fall of 2011 or 2012 will be the time to buy (it’s hard to say which year, too many variables) things will still be falling but it will be almost played out. Look for median home prices to be down below 4 median family incomes, wait until the end of summer that year and start putting in low-ball offers or just bargain hunt.
Total loss from peak to trough over 60%, perhaps as high as 70%. If you really time it right and negotiate hard it should be quite possible to buy a house for 20-25% of it’s peak price.
* All reference to price should be taken as “adjusted” dollars, not nominal.
February 12th, 2009 at 9:46 am
“It’s now an Asian Theme Park, and it little resembles the character that made this a cool place to live”
by “character” do mean the days of the asian-exclusion league, the chinese head-tax and the rounding up of Japanese Canadians? Longing for the days before 1947/48 when asians weren’t allowed to vote? or the days when the upstanding anglo citizens of vancouver were free to call anyone asian a “chi*k” or “j*p” “p*ki” to their face. Those asians sure have it easy here now, what a free-ride it would be if you were a nanny, looking after someone else’s kids so you could send a few dollars back home to your own. Or working the night shift as a janitor cleaning up the crap of rich anglos at the Vancouver Club, or you could go into that dream job of delivering papers in the wee hours of the morning downtown where you receive special attention from police constables.
February 12th, 2009 at 9:55 am
Your comment about median house price to median family income is on the spot. If everyone knows prices will crash until 2012 and will pick up again afterward, they would mean people who are able to buy will do so before it picks up so the pick up will occur earlier than 2012. What prevents this from happening is the economy and median family incomes. In effect, only a few people will be able to take advantage of the price drops.
I still believe ultimately prices will have to fall to `fundamental values’. If it doesn’t, it means something artificial is propping up the prices and eventually that something will collapse because of economic imbalances. The argument against this is that it sometimes takes a lifetime for this to happen. The counter argument is that it has been a lifetime since the last time we had such a readjustment.
February 12th, 2009 at 10:29 am
Prime minister, sports heroes, mascots unveil Olympic flag in Ottawa http://ca.news.yahoo.com/s/cap.....own_canada
February 12th, 2009 at 10:31 am
U.S. retail sales surprise with January jump
http://www.cbc.ca/money/story/.....nuary.html
February 12th, 2009 at 10:33 am
Of course Vancouver has changed
However, there is a big difference between change as “evolution” versus “decline”.
IMHO, The Lower Mainland in the 1960’s and 1970’s was a pleasant place to grow – up with a lot of fond memories
I had posted earlier about how, IMHO, a major shift began in the early 1980’s.
All things being equal…we had major boom -bust within about a 2 – 3 year period.
EXPO 86 created some sort of circus atmosphere and with it some injection into the BC economy.
History has shown that Govt’s since ancient Rome use such circuses to calm and distract the masses and head off possible revolt.
Since Expo, the local BC economy has effectively been Real Estate based….. we have deferred and beholden much of our economy to uncertain outside forces beyond our control.
The early influx of scared investment post -EXPO 86 and Pre -1997 set the RE benchmark. Even when the first wave came and went..the benchmark was still relatively high. Many locals who had the historical potential to become purchasers had to become renters. This created an internal diaspora…it became tough to establish roots and created much more transiency.
Ma and Pa etc sold their house , made a killing, move to Kelowna and yet wondered why their kids had to rent in Cloverdale.
DECLINE:
Re the Justice System err ” Justice Industry.”
I recall a conversation with a criminolgy student who informed me what a Professor of his one bluntly stated :
“The system is a success because of it FAILURE”.
When asked to explain further, he stated so many parties are dependent om the Justice system for their jobs..ie police, judges, lawyers, parole officers, prison guards , and there would be major UNemployment if the system actually worked and achieved drum roll “JUSTICE “. In other words, failure creates a succesful career for them .
I look back as some of BC’s more notorious cases ie Clifford Olsen and Robert Pickton, as an incompetent and dysfunctional system that should have identified them as prime suspects and many lives lost . Re: Pickton, I recall a radio talk show host took it upon themselves years ago to state over 50 women were missing , WTF is going on…and it took public pressure to force the police to do their job.
Even then Pickton was only caught based on a search warrant based on a firearms violation.
The Robert Dzienaski death by taser case is even more sickening as the inquiry unfolds and the witnesses testify. Overkill and cover-up
Police have also evolved into social workers that carry guns.
Richmond is a joke. Richmond is used as a training ground for RCMP…..given its multicultural mosaic. As one political candidate said… they have 25 year old supervising 22 year old officers. High turnover…too expensive to live here… crime prospers.
I once caught a neigbour in my own yard ripping me off….the police were called and mildly scolded me for yelling ?
Other goods of mine were in their garage and I hear NOTHING about what happened.
For justice in BC civil courts… a lawyer basically stated its minimum $40,000 to start…wheras other Provinces it costs less that $ 1000. Why? Intentional ?
So the big boys including Gov’t can have their way , “right or wrong” has nothing to do with it, Justice is simply a commodity that can be bought de – facto in BC ???
We are in the midst of more gang violence…I thought it was quite ironic that the police made a differentiation on news between ” gangland shooting ” and your “usual shooting “. Who cares which it is ?…people are dying in broad daylight in front the blindfolded “Scales of Justice” justice industry.
In Quebec’s Biker wars, people had enough and the Gov’t got off its ass and went after them with lots of resources..
Grow-Opps were rampant, and many do not want to admit it had a lot to do with absentee ownership, and possible collusion with such owners. Then , which seems typical…the Gov’t comes down with draconian legislation that affect the civil liberties of all (ie if your electrial bill is higher than normal…the Police and an Inspection team are authorized to search your house.) Some conspiracy theorists claim this is a subtle plan so as to have a police state under the auspices of the collective good.
My own conclusions are that this current economic tsunami is simply peeling back the layers to show how inept, incompetent and corrupt many of our institutions are. Our Gov’ts have gotten fat and lazy thinking golden gooses breed ad – infinitum, letting things decay and rot, not wanting to create bad perceptions/bad publicity . It’s like continually painting over rotten wood. The paint has more substance than the base.
I recall that after EXPO 86 was finished, Jimmy Pattison, who was effectively in charge of EXPO was interviewed a few years later and asked if he felt EXPO 86 had been a positive for Vancouver. Jimmy, who can often cut the the chase, really couldn’t given an answer .
Vancouver didn’t evolve, it has been in decline for decades.
It has simple been a tarted -up whore with tons of make-up pancaked on.
Our latest circus, ie 2010 Olympics will be used as our latest distraction while Rome burns. If say a gang shooting leaves 10 dead in Gordon Campbells neighbourhood… he”ll probably announce another bridge project while in Whistler for another photo opp.
The IOC head Jacques Rogge was on TV…this guy must be the re-incarnation of Trudeau (ir arrogant, indifferent, head up ass).
He feels the $1 Billion security will leave a positive legacy , the city will be more secure after ? and that the COV Olympic village debacle will still leave the City with a profit when it sells ? Yiikes !!!
If people think that a “cool hip urban sophisiticated lifestyle ” and other mind candy defines a city , you may be right.
Peel off the plywood and barbed wire that will ultimately cover these facades in the near future and have a look , at least for memories sake.
Maybe envision what Vancouver etc. might have been if we hadn’t gotten sucked into this black hole as a result of our failed leadership, especially as the layers of cheap paint keep peeling -off .
February 12th, 2009 at 10:51 am
kuroame:
Those asians sure have it easy here now, what a free-ride it would be if you were a nanny, looking after someone else’s kids so you could send a few dollars back home to your own.
Speaking of nannies, why don’t you talk to someone who knows something about the domestic help industry who the big abusers of nannies (mostly Filipino) are? It’s the wealthy Chinese. Both in HK and here.
The Asian nouveau rich have moved right into the footsteps of the old imperious Anglo rich. At least the Anglo old rich had better taste in houses and better manners.
Standing up for equal rights for everyone regardless of ethnic origin and being an apologist for every rich sleazeball from the other side of the Pacific are two different things.
February 12th, 2009 at 10:54 am
Targets for immigration are 240,000 in 2009 although its unclear where they find jobs. In addition approximately 50,000 refugees are waiting hearings, 3 in 4 bogus que jumpers here and on welfare for at least 2 years.
But I digress. The Pope and others might take passing notice that the Dow has dropped 500 points since the latest near trillion dollar US bailout was announced.
That ain’t good … at all.
February 12th, 2009 at 11:11 am
by “character” do mean the days of the asian-exclusion league, the chinese head-tax and the rounding up of Japanese Canadians? Longing for the days before 1947/48 when asians weren’t allowed to vote? or the days when the upstanding anglo citizens of vancouver were free to call anyone asian a “chi*k” or “j*p” “p*ki” to their face. Those asians sure have it easy here now, what a free-ride it would be if you were a nanny, looking after someone else’s kids so you could send a few dollars back home to your own. Or working the night shift as a janitor cleaning up the crap of rich anglos at the Vancouver Club, or you could go into that dream job of delivering papers in the wee hours of the morning downtown where you receive special attention from police constables.
In a word, No. That’s not what I mean about “character” and I suspect it’s not what the original poster referred to.
Hey, isn’t it hard to defend against accusations of racism? Golly, if you have a white Anglo-Saxon heritage, you immediately want to step back and try not to be noticed. Cheap shots. Did any of this happen to you?
B.C. has an absolutely shameful history, against First Nations, Japanese, Chinese, Doukhobors, Italians, Poles. Do some research on Darcy Island in Haro Strait. Shameful, heartbreaking. Perhaps you already know. How about RCMP raiding pacifist Doukhobor settlements in the week hours of the morning and stealing their children. Imagine the pain and agony of the children and the parents.
Actually, for every ethnic group that has ever existed, Anglo-Saxon whites have had an unflattering name for them. I know. I heard many of these names from my Anglo-Saxon white father, and some from my grandfather.
Now, if you think there is poetic justice in the huge influx of various Asian ethnicities into Vancouver and how the ethnic makeup of the “better” parts of Vancouver has changed so dramatically in favour of the non-Whites, then I agree wholeheartedly.
And if U.B.C. finally acknowledges that it sits on land that belongs to the the survivors of the First Nations people from whom it was stolen, I will cheer.
So much for cleansing the soul of the sins of our forefathers.
Now: There is a huge difference between the Asian groups who have been here for generations and those who have come recently. Don’t confuse the two groups. All too often my wife (a teacher) heard “racist” comments by recent Mandarin-speaking Chinese students directed against other Chinese, particularly those who spoke Cantonese. Wow, talk about racism.
imHo, the imagery associated with “Asian theme park” refers to the recent immigrants, their effective takeover of what was formerly white Anglo-Saxon turf, and is at least in part legitimate.
February 12th, 2009 at 11:13 am
I’m sure we’ll all miss you Paul, and I think I’ll be the one guy who speaks directly and says:
PEI? Really? Are you *sure*?
My grandmother and uncle live there and I grew up in Nova Scotia. My parents sell furnace oil (among other things) and trust me, it’s lucrative. Their art collection would make even Rennie raise an eyebrow.
It’s REALLY small. Sure it’s pretty in summer but the winters in the East are *brutal* and you can get snowed in for days. It’s decent weather basically from May to October. It can be damn chilly in *august*.
And then there are the people. They’re great if you’re a stranger not staying for long. It’s *quite* different when you live there. There’s a reason so many people are *from* the East Coast. Like one poster said, it really is Canada’s Appalachia.
I strongly suspect you took as look at what’s coming and have decided to change gears. I can understand that. If you see the tsunami coming, change course and run if you can!
Best of luck dude. You’d have to drag me back there literally and I’d be clawing at the dirt the whole way.
February 12th, 2009 at 11:15 am
Wanting a condo at De Cotiss Pinnacles’ “The Pier”?
The original preview price list consisted of The Pier waterfront condos one bedroom suites at 562 sf starting from $469,900 and the one bedroom plus den condominiums at 569 sf starting from $559,900.
The larger two bed and two bedroom plus den presale Pinnacle Residences at the Pier range from 1040 to 1280 square feet with a price tag of $889,900 to $1,599,900.
Also featured are three bed and three bedroom plus den homes ranging between 1300 to 1773 square feet in size with affordable waterfront condo pricing between $1,099,900 to $2,299,900.
February 12th, 2009 at 11:16 am
The herd is dazed and bludgeoned into complacency. The media in BC is no longer publishing bad stories about the economy or real estate specifically. The advertisers and the government liars are circling the wagons and not letting any onformation out through the Canadian media.
I would imagine that the realtards are breathing a sigh of relief as the local gang violence story has stolen the headlines.
The trouble with reality is that it doesn’t go away. Theres no ’spring break’ from a depression. Jobless numbers are way up again. Tens of thousands have lost thier jobs this week AGAIN! Unemployment blows the doors off analysts expectations.
WASHINGTON – Nearly 5 million Americans continued to draw jobless benefits late last month, and new requests again exceeded 600,000 as companies lay off scores of workers amid a deepening recession.
In slightly better economic news, retail sales rose unexpectedly in January, reversing six months of decline and following a dismal holiday season. But analysts said the jump was unlikely to last, partly because of the weak job market.
The Labor Department said Thursday that the number of initial jobless benefit claims dropped to a seasonally-adjusted 623,000, from an upwardly revised figure of 631,000 the previous week. The latest tally still was above analysts’ expectations of 610,000 claims.
And in a sign that laid-off workers are having difficulty finding new work, the number of people claiming benefits for more than one week rose to 4.81 million from 4.78 million, the highest total since records began in 1967. The continuing claims data lag new claims by a week.
http://news.yahoo.com/s/ap/200.....fi/economy
With an additional 600,000 on the unemployment line this week the total number of unemployed in the US is nowing targeting 13 MILLION !!!
February 12th, 2009 at 11:19 am
Chinalco bails out Rio Tinto
http://business.smh.com.au/bus.....-85rd.html
‘Arm’s-length’ relationship
That could raise investor concerns that Rio is ceding a large portion of its future growth prospects in return for a solution to its $US39 billion debt burden, which includes $US8.9 billion of repayments due in October and $US10 billion the following October.
Rio’s shares are down by around a fifth since BHP scrapped its offer in November, dented also by investor concern over Rio’s debt load, taken on when it bought Alcan in 2007.
“Rio’s board must be beside themselves having to do this. It’s very unfortunate timing, buying at the top and selling at the bottom and you might have expected more given Rio’s previously exemplary track record,” said Mark Pervan, senior commodities analyst at ANZ Bank
=======
So…
The Communist -Capitalists are now buying up increasing stakes in over -leveraged Western Multi -Nationals.
How many more ?
February 12th, 2009 at 11:43 am
Who says banks aren’t lending?
http://www.bloomberg.com/apps/.....fer=canada
February 12th, 2009 at 11:57 am
Taxpayers are paying in more than one sense. Banks are being propped up by the government and hence taxpayers. So in a way it is the taxpayers lending to taxpayers via banks so the banks can take the interest
and the village construction can continue.
Anyways, the problem isn’t that banks aren’t lending but that the shadow banking sector has dried up (of which fortress is an example).
February 12th, 2009 at 11:59 am
Heres another example of realtards playing fast and loose with the numbers. Apparently an increase in the number of respondants who say they are going to wait two years before buying is being spun as a positive.
Three in 10 respondents said they were considering a purchase in the next two years, up from 20 per cent when the same question was asked in November.
http://www.vancouversun.com/Ho.....story.html
hahahahahahaha heeheeheeheeheehee lolololololol !!!!!
These people really think that you are easily confused by simple math.
February 12th, 2009 at 12:12 pm
“Banks are being propped up by the government and hence taxpayers”
No, they’re not.
February 12th, 2009 at 12:18 pm
Anonymous:
Who says banks aren’t lending?
In fact the banks are falling all over each other to lend to good risks, which includes the CoV notwithstanding the doomsayers. Note the interest rate of under 3%.
The so-called “credit crunch” is more than anything else a return to the good old days when the banks actually cared about being paid back.
February 12th, 2009 at 12:20 pm
patriotz:
maybe we could bird dog a finders fee. TO’s in big trouble
http://www.nationalpost.com/ne.....id=1279628
February 12th, 2009 at 12:41 pm
There is no way that municipal governments should be responsible for welfare. They have no control over how many people in need will turn up within their boundaries and they do not have the tax base to pay for social services.
At least here in BC we get that right.
February 12th, 2009 at 12:42 pm
“Banks are being propped up by the government and hence taxpayers”
No, they’re not.
http://www.theglobeandmail.com.....y/Business
Let me qualify. Of course I don’t mean they have had to bail out any banks like in the US.
But the government has assumed billions in mortgages from Canadian banks through the CMHC. It is also providing money to banks at very low interest rates.
From budget 2009:
#Committing an additional $50 billion to the Insured Mortgage Purchase Program, increasing the overall size of this program to $125 billion. This will provide lenders with stable long-term financing, allowing them to continue lending to Canadian consumers and businesses.
# Facilitating the provision of extraordinary liquidity to financial institutions by the Bank of Canada, as required, through the modernization of the Bank’s authorities in Budget 2008.
# Adding a 10-year maturity to the Canada Mortgage Bond program to raise supplementary funding for financial institutions.
February 12th, 2009 at 12:56 pm
Paul will be sorely missed.
Anyone know of another source for the daily numbers he was posting? That was one of the first things I checked every morning.
Good luck in PEI, Paul!!!
February 12th, 2009 at 1:09 pm
Re Local Gov’ts (like Toronto)and flirting with financial disaster.
Empowering legislation for Local Gov’ts ie ripe for abuse .
They may be “forced(?)” to run a balanced budget … but I will bet you a “John SUV stuffed with pepperoni” you will see a lot of shit hit the fan with City Budgets as the truth oozes out. In recently concluded boom times… many Local gov’ts pissed truckloads of funds down the rathole, assuming the boom times would never end…
Oops ! Fluuu$$$$hh!
Their budget projections will be shot, and they will be dipping into their own fiscal reserves if they haven’t already.
Unless mistaken,,,they can dip into these fiscal reserves at will, give the citizens a false sense of security , till its too late.
Toronto sounds like NYC of the 1970s..ie on the verge of bankruptcy.
Any Local Gov’t that accepts any downloading for what are historically Provincial and Federal responsibilites are playing with fire.
Local Gov’t : ” The last bastion of corruption ”
February 12th, 2009 at 1:15 pm
“Dow5000 Says:
Targets for immigration are 240,000 in 2009 although its unclear where they find jobs.”
I told you they don’t need no jobs, no english. Banks will lend them mortgage to buy homes and investments within 5 to 10 years of arriving. You bears keep talking and miss the boat. No jobs are good they can claim social child benefits for low income families. Keep cash in banks in Hongkong and assets in relatives names in China.
February 12th, 2009 at 1:15 pm
#82
“Cheap shots. Did any of this happen to you”
Yes. but it was just my dad/aunt/grandparents who lost everything and were in prison camp for four years.
“the imagery associated with “Asian theme park” refers to the recent immigrants, their effective takeover of what was formerly white Anglo-Saxon turf, and is at least in part legitimate”
where did the poster state that? He didn’t say “recent immigrant theme park”. And tell me what area has been “taken over” by recent asian immigrants? what does that even mean? Because there are a lot of Chinese people living in Richmond does that mean it has been “taken over” by them? Did they go and erect some sort of wall? are anglos or others now excluding from living in Richmond? xenophobic bs!!
Nothing is wrong with talking about race, but it is racist when people bring it up in a HIGHLY SELECTIVE MANNER. Then when someone calls them on it they paint themselves as the victim, no longer able to express their “objective views” in the oppressive pc world. Go ahead and express your views, just be prepared to defend them – I imagine that would be the real problem though so they just continue to slip in a litte “asian” here or “immigrant” there.
Just tired of seeing this crap on a great blog. Take it to Vancouver Brown-Shirt Info.
February 12th, 2009 at 1:25 pm
I had been using Paul’s site to send me mls updates for my tracking spreadsheet (with the plan on eventually using him as a realtor). Now that he’s movin’ on, does anybody know of any other realtor’s in the lower mainland providing this service without requiring you to sign a contract for representation?
February 12th, 2009 at 1:26 pm
Re: Realtors;
Several years ago I met a party who was a renovation contractor.
While we chatted, he mentioned that he had once been a realtor.
Out of curiousity,I asked him why he was an Ex- Realtor.
He stated that anyone can sell real estate,the succesful realtor is selling “themselves”. ie Does the purchaser/buyer actually like/trust/feel comfortable enough with the given realtor to use them in RE transactions.
This realtor said he had been the top realtor in area, but that seemed to make him a target for other realtors to snipe at and try to take down ,or take the crwon from.
He got tired of the BS from his peers, and bailed.
So the successful realtors are based on___________(fill in the blank)
February 12th, 2009 at 1:54 pm
“All too often my wife (a teacher) heard “racist” comments by recent Mandarin-speaking Chinese students directed against other Chinese, particularly those who spoke Cantonese. Wow, talk about racism.”
“Speaking of nannies, why don’t you talk to someone who knows something about the domestic help industry who the big abusers of nannies (mostly Filipino) are? It’s the wealthy Chinese. Both in HK and here.”
Oh, I see so because some Chinese are racist too and some rich chinese people who can afford a nanny exploit them it is then ok to say racist things about asians. Cool logic. You know what? I heard once from some person (a doctor) that he overheard some anglos saying nasty things about french people so its open season on anglos! I also heard that once some black people were slaves of other black people so that means that slavery run by white people wasn’t really that bad. Listen to yourselves. Overcome your upbringing.
February 12th, 2009 at 1:55 pm
With Paul B moving to PEI, the press isn’t exactly coming up with the most attractive stories about the island. Here’s one of a worker getting short-changed by his employer.
Neunzig said he kept logbooks showing that he worked over 40 hours a week but was only getting paid for about 20. He said he did not get paid when he was at the office doing paperwork, shovelling snow, or training other people while waiting to drive
February 12th, 2009 at 1:56 pm
One of my friend adviced me not to buy van r.e. around 2004 then he moved to pei around 2007.
February 12th, 2009 at 2:08 pm
“But the government has assumed billions in mortgages from Canadian banks through the CMHC. It is also providing money to banks at very low interest rates.”
Yes, but not to “prop up” banks, but to provide a sounder basis on which they can continue to lend to the public.
The “assuming billions in mortgages” is actually an asset swap. Govt gets mortgages, banks get govt paper. Due to the current market uncertainties, the banks’ portfolios of mortgages was not useful as security for the banks to obtain funds to lend (or at least it would result in them borrowing at higher costs they could lend at). It’s not clear that the govt has taken on that much risk with this, especially given that the yields on the mortgages are greater than the govt paper, and most of the mortgages are CMHC insured. There’s actually a decent chance the govt will make money on the deal.
Anyway, saying the govt is propping up banks is misleading hyperbole. Banks’ capital ratios are far higher than required (and our requirements are much higher than other countries’), and many have recently successfully raised cash through issuing debt or equity in the open market to raise those ratios. They didn’t get “propped up” by the gov’t, and the risk to taxpayers from what the government is doing is minimal.
February 12th, 2009 at 2:08 pm
I apologize in advance if this is a stupid question (and has been discussed already) but can someone point me to where I can get the updated Real Estate Board of Greater Vancouver Average Price Graph? You know, the graph that shows the chart of prices all the way back to 1977.
I have been searching the RealtyLink.org site and the REBGV.org site etc. and cannot find it. I do have one that is up-to-date as of November 2008 but cannot find anything newer.
February 12th, 2009 at 2:33 pm
Heres a gem from todays Sun. I got lambasted for making the same statement here a few weeks ago in an earlier string. Apparently the general public is either reading VCI or they’re catching on.
“VANCOUVER — A growing number of British Columbians think this is a good time to buy a home, though most say it isn’t a good time to sell, a new Ipsos Reid poll has found.”
http://www.vancouversun.com/Ho.....story.html
What I said some weeks ago is this ” There may be a case for saying that over a historic term of 50 years that there may not have been a bad time to buy real estate but there are certainly a lot of bad times to sell due to the long holding periods through the troughs of economic cycles.
And I attracted a swarm of criticism.
Now, the article in the Sun stating that this is a good time to buy is histrionic and grossly inaccurate, but it was funny to learn that some age old wisdom is dawning on a few.
I question what the motivation of the writer was to suggest that ‘buying; is OK but not selling? Is it because this person works the developer crowd and is trying to get mom and pop not to list thier homes for sale in order to push the few buyer/suckers there are towards the developers product. Call me paranoid but good straight and clear thinking has saved my butt more than once. Trust no one in the media.
February 12th, 2009 at 2:40 pm
British PM advisor states that this will be the worst rescession in 100 years, worse than 1930’s, effect6s will last 15 years!!!
Ed Balls, the PM’s closest ally, warns that downturn is ferocious and says impact will last 15 years.
In an extraordinary admission about the severity of the economic downturn, Ed Balls even predicted that its effects would still be felt 15 years from now. The Schools Secretary’s comments carry added weight because he is a former chief economic adviser to the Treasury and regarded as one of the Prime Ministers’s closest allies.
Mr Balls said yesterday: “The reality is that this is becoming the most serious global recession for, I’m sure, over 100 years, as it will turn out.”
http://globaleconomicanalysis......years.html
February 12th, 2009 at 2:47 pm
House price plunge CONTINUED TO ACCELERATE in 4th Q 2008. Panic spreads, according to article.
http://money.cnn.com/2009/02/1.....2009021212
February 12th, 2009 at 2:59 pm
I thought the Real Estate mantra was ” it is ALWAYS a good time to BUY…never a good time to sell”
Ie Real Estate always goes up.
Dare I say we are about to shatter something literally written in stone? and defy the law of RE anti- gravity to boot ?
February 12th, 2009 at 3:08 pm
#60
“Hate to break it to you but immigration to Vancouver is at some of the lowest levels in history, and about half what it was during the nineties.”
Wrong. First of all, you should go to Richmond and tell me what kind of people you see everywhere. Second of all, immigrants don’t need to immigrate in Vancouver first. All they need to do is get into Canada, then drive over to Vancouver. I guess you’re not using your critical thinking. Stats are for losers.
February 12th, 2009 at 3:10 pm
“House price plunge CONTINUED TO ACCELERATE in 4th Q 2008. Panic spreads, according to article.”
I watched CNBC yesterday, it seemed like Americans are confident and home prices actually stabilized last month. 4th Q 2008, that’s the past, it’s all about the future my friend.
February 12th, 2009 at 3:49 pm
off topic, but can someone recommed a good resume writer/career coach?
February 12th, 2009 at 3:55 pm
My observations are there is not much ” old ” product on the market.
Owners of say 5 years or older homes are not selling.
What is “For Sale ” is new product ie 1-3 years old ie condos, SFH etc. that is also more highly leveraged .
I would guess that many owners of older product, especially SFH are hedging to wait and not flood the market… perhaps on the advice of their Realtor. However, I am going to anticipate that this is simply holding back the inventory that would normally be on the market (ie want to retire, move elsewhere , estate sales etc., and that inventory will flood the market within 6 -12 months.
I agree with realpaul….the realtors must know the condo market will flood soon, the realtors sense blood and want to circle like sharks and vultures towards those easier commissions based on those crashing prices.
Other RE (like SFH)will likley attract lookey loos like Supraboy and his extended Dim Sum family given it will likely be higher priced.
February 12th, 2009 at 4:05 pm
Supraboy:
re: PEI
It’s current population is approx. 140 ,000
There are more people in Richmond(ie approx. 180,000) than PEI
I wonder if the population in Richmond invaded PEI , or immigrated there, the native PEI herring chokers would be seriously outnumbered , lose control and Richmond EAST could be established. Then lots of McMansions and Dim Sum…waddya think ?
February 12th, 2009 at 4:19 pm
Retail sales rose in January in the US, seems like a turnaround to me.
http://finance.yahoo.com/news/.....46950.html
February 12th, 2009 at 4:20 pm
“I wonder if the population in Richmond invaded PEI , or immigrated there, the native PEI herring chokers would be seriously outnumbered , lose control and Richmond EAST could be established. Then lots of McMansions and Dim Sum…waddya think ?”
I think you’re going to be in for a rude awakening when the economy turns positive again. I think we might have seen the bottom last month if the US economy prepares for a nice turnaround in September.
February 12th, 2009 at 4:38 pm
MickeyFinn:Majority feel it’s a good time to buy real estate:While Graph has turn around link can be found here Anonymous 39:
February 12th, 2009 at 4:46 pm
Vancouver closes in on $800-million deal to save athletes village
http://www.theglobeandmail.com.....hColumbia/
QUOTE:
VANCOUVER — The city of Vancouver is close to concluding new financing arrangements for the Olympic athletes village that could help save the project’s developer millions in interest payments.
The Globe and Mail has learned how the deal is shaping up.
The city has reached an understanding with a consortium of Canadian banks to borrow upwards of $800-million at an interest rate of less than 3 per cent. This will allow the city to complete the project and pay off Fortress Investment Group, the New York-based hedge fund that had been financing the project until it stopped advancing money to the developer, Millennium Development Corp., last September, allegedly over concerns it had about cost overruns.
=======================================
QUOTE:
According to sources, the city has reached an agreement in which it would pay Fortress a $4-million penalty to take over financing of the project. This is a far cry from the $25-million to $50-million speculated to be the fee the city would have to pay to break the terms of the loan and send Fortress packing.
The fact that Fortress would settle for so little is interesting, and certainly supports the premise it was anxious to get its $317-million loan back and say goodbye to Vancouver. Fortress has been in financial difficulty for months, with its share price plummeting and investors fleeing in all directions.
Comment:
Turn the tables on the hard – up ” loan shark ” and ground them down ? The Principle amount being repaid was of greater priority than the interest ?
====================
QUOTE:
Despite its problems, Millennium has done a remarkable job on the site, according to most reports. The village is a construction marvel and the quality of the work of exceptional standard. There are developers in the city who are surprised that Millennium hung in there during the past few months – many would have walked. And perhaps the city should take that into account when exacting its pound of flesh for the money it will lend the developer, and when considering how long it will give Millennium to pay the loan back. It is likely to be somewhere between three and five years.
Because of some deft negotiating on the city’s part, this project isn’t looking like the financial disaster it once was. Taxpayers could still be on the hook for millions, but maybe not the hundreds of millions once thought.
Comment:
Sorry, you were right the first time…it will be hundreds of millions.
February 12th, 2009 at 4:48 pm
Sorry..post #118 was ME …..not Anonymous
POPE, What happened
February 12th, 2009 at 4:50 pm
Photo Gallery: 2010 Olympic torch unveiled,The 2010 Winter Olympic torch was unveiled Thursday morning. http://www.vancouversun.com/Sp.....story.html
February 12th, 2009 at 4:54 pm
Informer10:
That graph means nothing specific.
Ex: You have a sample of eleven sales. 10 units sell for 300000 = 3 million and one unit sells for 3 Million . Total value of sales = 6 million
Average value of sales = $545,454.00 ( 6 million divided by eleven )
Does that mean that all houses sold at an average of
$545,454.00, according to your chart it does.
So much for the graphs put out by the Real Estate Board. See how easy is is to fool the sheeple. You believed this crap enough to post it, muliply that by the number of people who are to lazy to think for themselves and you get the idea.
February 12th, 2009 at 4:56 pm
http://www.nytimes.com/2009/02.....r=2&hp
February 12th, 2009 at 4:59 pm
Informer10:
Informer10 thanks for the link to the graph. Much appreciated.
Yes you’re right the “majority” may feel that it’s a good time to buy, but then again the majority are sheep. Go have a read of the analysts’ opinions on Nortel in the year 2000 – after Nortel had started to seriously fall from it’s all-time high of $125 per share set just about a year earlier – most of the investment bank sheep were bleating that it was “cheap again” when it had fallen in the $90 per share range. Oops, guess they were wrong on that one. Oh well, it only wiped a mere $350 billion off of the sheep investors’ account statements.
I wanted the updated average price graph chart so that I could send it to a friend of mine who lives in Singapore. He is a professional technical analyst and I want to get his opinion on how many years I might have to wait until we see a bottom in the Vancouver real estate market. My guess is that the market will continue to decline for years but that perhaps as soon as next February it may be nearing a point where it will be worthwhile to start putting in some lowball bids.
I do enjoy looking at the chart though… it’s a thing of beauty in it’s stark contrast to reality.
February 12th, 2009 at 5:00 pm
Affordable Housing: Five Myths
http://thetyee.ca/News/2009/02/12/HousingMyths/
Myth #1: The market correction will restore affordability
Myth #2: As home prices fall, so will rents
Myth #3: Empty condos will loosen up the rental market
Myth #4: Build more homes and prices will drop
Myth #5: The government needs to subsidize more housing
===================================================
Interesting read .
Fellow VCI poster may want to really look at some of the rationale behind these.
QUOTE:
Kelowna and Victoria boast the lowest rental vacancy rates in Canada. Vacancies averaged 0.3 per cent in both markets, according to a survey by the Canada Mortgage and Housing Corporation.
Vancouver finished close on their heels in the October 2008 survey. Of roughly 54,000 market-rental apartments in Vancouver, a mere 160 units were available.
As long as demand for rental apartments continues to outstrip supply by such a large margin, B.C. rents will continue to rise without any relationship to unit costs.
QUOTE:
In Vancouver, for example, old houses tend to fetch higher prices than new ones. This is in large part because Vancouver valuations are based primarily on land area, and only secondarily on the structure. Throughout much of B.C., however, there is a greater demand for older houses with heritage features such as stained glass or detailed cabinetry. Likewise, apartments from the 1960s and 1970s often fetch as much or more than newer units, because many are larger and closer to the ground floor.
QUOTE:
As The Tyee reported in part one of this series, a median family living in the Vancouver region can afford to borrow enough money to buy a $258,000 home.
Metro Vancouver home prices would have to plunge 55 per cent from the May 2008 benchmark peak of $568,411 in order for a typical family to buy one.
Not even the hardest hit regions of the United States have suffered an across-the-board drop in housing prices of 55 per cent. In California, for example, home prices appear to be bottoming out at about 40 per cent below the peak.
February 12th, 2009 at 5:03 pm
realestatescatterbrain: Mickey has requested an update graph nope? however i was not sure if that will turn your face like brownie
February 12th, 2009 at 5:17 pm
MickeyFinn: Yours welcome and please take your time unless you think you were right but no rush weekly stats prices are at 802 compare to 782 for four weeks,Eight bussiness days sales stand at 580 compare to 773 sales for january.
February 12th, 2009 at 5:18 pm
MickeyFinn:
Which is better?
Half Truths? …..or White Lies?
The “good time to buy” is simply a relativity argument, not an absolute argument.
One looks at the Big Picture. Connect the dots.
Who would buy…?
—do parties have all cash offers to throw around ?
– are the banks being far more conservative when lending in a market that is ALSO experiencing massive job losses ?
It’s much like a person drowning 20 ft. from shore, a person throws them a 15 ft. rope and says ” I met you more than 1/2 way…. what’s your problem ?, you want my help or not ” ?
The RE bubble didn’t exactly blow up to ground zero, it is deflating.
—-There is nothing to suggest it will inflate,….and
—-Nothing forseeable to stop it from deflating.
THUS,….What other conclusion can one make as what will happen?
People simply don’t seem to make a connection to the dynamics.
February 12th, 2009 at 5:20 pm
“The website will live on!”.-PAUL B.
I am very happy that we can continue on. The new site owner is a fantastic Realtor and most importantly honest and objective. I could not have left the site in better hands”.-Paul B.
http://paul-northvancouverhomes.blogspot.com/
February 12th, 2009 at 5:25 pm
The Pope:
Nope, what I have said in earlier strings was that I have in the past managed realtards by the hundreds as part of my departmental responsibilities as an executive with a large diverse investment firm here in Vancouver. Developing new real estate franchises was one of my business models. Several of the businesses I helped create are still in existence. I designed buisness models to sell to new immigrant Canadians.
I didn’t say that ‘I’d had a bad experiance with a realtor’ I said I knew the realtard soul in and out and can say without reservation that this lot are the worst sales slime on average more than anyone can imagine.
My boss used to ask me not to be so ’slaphappy’ with these clowns, but because I would have to peel thier asses off the floor down at the board offices for doing the most un freaking believable shit you can imagine I slapped them good and without reservation.
I would have every one of these morons in my office at regularily to slap some reality into them. Hence the term ’slaphappy’ in the executive lounge.I have stories about realturds that make used car salesmen look like sainted grandmas.
I gave you the inside dope on realturds, you don’t want to accept the truth. I assume it is as I have said a personal disonance that requires you to want to believe that there must be some good in the world.
Thats why I listed the comments I had on the personal interpration of truth as to why any supposedly honest and profitable realtard would dump his business in the middle of a ‘boom’. It’s because I know the world of realtards back to front, from the inside out. What I said stands.
February 12th, 2009 at 5:33 pm
No one tell “SUV n’ pepperoni” John about this
…promise!
Laid-Off Foreigners Flee as Dubai Spirals Down
http://www.nytimes.com/2009/02.....r=2&hp
DUBAI, United Arab Emirates — Sofia, a 34-year-old Frenchwoman, moved here a year ago to take a job in advertising, so confident about Dubai’s fast-growing economy that she bought an apartment for almost $300,000 with a 15-year mortgage.
Now, like many of the foreign workers who make up 90 percent of the population here, she has been laid off and faces the prospect of being forced to leave this Persian Gulf city — or worse.
“I’m really scared of what could happen, because I bought property here,” said Sofia, who asked that her last name be withheld because she is still hunting for a new job. “If I can’t pay it off, I was told I could end up in debtors’ prison.”
With Dubai’s economy in free fall, newspapers have reported that more than 3,000 cars sit abandoned in the parking lot at the Dubai Airport, left by fleeing, debt-ridden foreigners (who could in fact be imprisoned if they failed to pay their bills). Some are said to have maxed-out credit cards inside and notes of apology taped to the windshield
====================================
QUOTE:
Instead of moving toward greater transparency, the emirates seem to be moving in the other direction. A new draft media law would make it a crime to damage the country’s reputation or economy, punishable by fines of up to 1 million dirhams (about $272,000). Some say it is already having a chilling effect on reporting about the crisis.
Last month, local newspapers reported that Dubai was canceling 1,500 work visas every day, citing unnamed government officials. Asked about the number, Humaid bin Dimas, a spokesman for Dubai’s Labor Ministry, said he would not confirm or deny it and refused to comment further. Some say the true figure is much higher.
=================
Dammit:
Competition for the Olympic Village condos.
February 12th, 2009 at 5:41 pm
Informer10:
Informer10 – I don’t understand why you are comparing February market activity with January? Historically, February is one of the peak selling months and should well outperform January… afterall it’s the beginning of the spring sales surge.
From the REBGV historical data, here are the total sales of detached, attached and appartments for:
Feb ‘07 2,859 units
Feb ‘06 2,941 units
Feb ‘05 3,068 units
Geez, I guess I should be even more bearish than I already am… it would appear that we’ve got record high inventory, with massive additional supply coming onstream for a couple more years and current sales activity which is pathetic when looked at from an historical perspective. Hmmm, I wonder what that will do to prices?
February 12th, 2009 at 5:43 pm
Is Dubai Vancouver’s Twin ?
For many foreigners, Dubai had seemed at first to be a refuge, relatively insulated from the panic that began hitting the rest of the world last autumn. The Persian Gulf is cushioned by vast oil and gas wealth, and some who lost jobs in New York and London began applying here.
But Dubai, unlike Abu Dhabi or nearby Qatar and Saudi Arabia, does not have its own oil, and had built its reputation on real estate, finance and tourism. Now, many expatriates here talk about Dubai as though it were a con game all along. Lurid rumors spread quickly: the Palm Jumeira, an artificial island that is one of this city’s trademark developments, is said to be sinking, and when you turn the faucets in the hotels built atop it, only cockroaches come out.
Comment: “…..and had built its reputation on real estate, finance and tourism.”
Yiiiiikkes …..sounds familiar !!!!
February 12th, 2009 at 6:03 pm
MickeyFinn: There was no recession here: Feb ‘07 2,859 units Feb ‘06 2,941 units Feb ‘05 3,068 units.but there seems to be downturn compare to peak prices and peak sales after july 2008 That’s why Feb 2009 sales and prices are very important in comparison with January 2009 sales and prices,seems like they had sustain the hard knocked injuries and recovering really fast in shape of 12.1 magnitude that was recorded last month by rebgv.
February 12th, 2009 at 6:17 pm
“I have in the past managed realtards by the hundreds as part of my departmental responsibilities as an executive with a large diverse investment firm here in Vancouver.”
so if realtors are icky and you managed hundreds of them, doesn’t that kind of make you… ickier?
February 12th, 2009 at 6:49 pm
I was just in LA and let me tell you things are hoping again in the US as we’ve seen with the HUGE increase in retail sales last month. It was like the Obama rally extended into every day life. Everyone was talking about hope and change and spending money. No need for a stimulus just have huge 100 million dollar parties for Obama on tv. He could be like Chavez.
Anyway I made a couple of pepperoni sales in LA. The rich asians all asked me about condos in Vancouver. I played it hard to get so I can get multiple offers.
February 12th, 2009 at 7:30 pm
I’ve been pondering this post since the departure of PaulB. While I appreciate the time and effort he put into his daily numbers that have helped me to avoid buying into the MAC/Rennie Marketing systems dream, I am also drawn back to the issue of leaving for betterment of life to PEI.
Seems to me being a realtor in the past 4 years, ‘03-07, whith PaulB’s accumen, would have put oneself and their family in an above average Vancouver income bracket and quality of life. Enough one would think to wait for the bears to come out to buy in 12-18 months time..
I can side with anyone making a decision to put one’s self and family first, but as it is with most industries the people you don’t want to quit,do, and you are left with the lesser lights. I hope that PaulB didn’t leave due to the prospects of representing hard bargaining bears to clients that bought the hype and not the fundamentals and are possibly in arears at the time of them needing to sell. As has been pointed out so eloquently here before: someone always has to sell, you never have to buy.
It’s easy to sell a product on euphoria: Iphones,pre-sales, stocks or RE but to really sell in hard times takes much more effort. Maybe the REBGV and FVREGB laid it out to him about presenting the inventory numbers going forward..no conspiracy but everyone has to pull on the rope the same way in the realtor business don’t they?
Family first, all else second so thanks PaulB
February 12th, 2009 at 7:33 pm
Rich Women Blog About Bad Economy, Bad Sex Lives
http://www.foxnews.com/story/0,2933,485633,00.html
QUOTE:
Their clothing allowance has been halved, they’ve had to fire their personal trainers and their sex lives have tanked.
They’re the once-pampered — now highly disgruntled — women partners of U.S. bankers and they’re speaking out about how the financial meltdown has changed their lives and their relationships.
“The sitter’s hours are cut, both the family and my private credit card are cut in half, and I’m switching from having my facials and massages in my earthy, yoga-and-wine serving downtown spa to a midtown been-in-business-forever place with ladies in cubbies wearing pink jackets and lots of make-up giving facials only,” says one entry from Cathy, who wrote about life in Manhattan with a banker husband whose income was cut in January by 75 percent
Ryan Tate, writing on Gawker.com, called the women “an imploding caste of spoiled harpies” whose boyfriends and ex-lovers “spent their economic plunder as carelessly as they hoarded it.”
February 12th, 2009 at 7:50 pm
realpaul:
Post # 130
Good rant..right up there with scullboy classics.
However, I might advise you provide a few good anecdotes from the experiences with realtors you allude to in Post # 130…through some meat on them bones.
February 12th, 2009 at 8:38 pm
Listen to yourselves. Overcome your upbringing.
kuroame, take a breath and listen to yourself, please!
Clearly I and others touched a raw nerve. My apologies. Having said that, I think you need to overcome your own upbringing. Your family memory is important and no amount of restitution could ever make up for what happened. But imHo you brought this memory inappropriately, with considerable vitriol, into the present. That was your first post. Now you just won’t back down. Your eyes have glazed over.
February 12th, 2009 at 8:38 pm
kuroame:
Oh, I see so because some Chinese are racist too and some rich chinese people who can afford a nanny exploit them it is then ok to say racist things about asians. Cool logic.
That’s your logic not mine.
Here’s a little quiz for you.
In what country, right now, are people of Chinese origin not allowed to vote, not allowed to form free trade unions, subject to prison labour, and not allowed to freely live where they want to?
It’s not Canada.
I have a little problem with people who get rich exploiting workers under such a system. How about you?
February 12th, 2009 at 9:06 pm
Anonymous:
It’s a bit like being a farmer and getting shit on your shoes, it comes with the territory. A supervisor, director and/or employer doesn’t have to like all his empolyees do they . If that were the case you’d never get a job would you.
February 12th, 2009 at 9:21 pm
NO -LYMPICS:
Thanks, but I’m sure identifying people personally unless they out themselves with thier own personal deeds is not the way to go. Most of theses people I speak of so fondly are just dumb chimps.
I like to get after the real idiots when they start to take themselves too seriously by doing or saying really outlandish things. Then they are fair game and it’s OK to call them out.
Uber Dipshits like Booby Runniepants for example who’s new boyfriend must be using LSD soaked condoms. That fart blowing dickhead deserves a public firehose enema for talking the bullshit he does.
To list all the realtards who couldn’t walk and chew gum at the same time even if it was on the way to stealing thier mothers purse is akin to beating a dog, just no fun for the effort ratio in that. I prefer the ‘wack a mole’ concept that is similar to this blogs particapants.
February 12th, 2009 at 11:08 pm
“He could be like Chavez.
Anyway I made a couple of pepperoni sales in LA.”
OMFG, the funniest thing I’ve read in a long time. Thanks, John. As always, a breath of fresh air in the NO-LYMPICS zone.
February 13th, 2009 at 12:16 am
Patriotz said to Kuroame:
I have a little problem with people who get rich exploiting workers under such a system. How about you?
It’s so beautiful how it comes full circle, doesn’t it?
Now over 1000 of those Chinese who got rich by being “racist” to other Chinese in China are heading over to PEI over the next few months. And they’ll be a needing $200,000 “starter” homes to live in, won’t they?
http://www.theguardian.pe.ca/i.....&sc=98
Enter Paul B., stage left.
February 13th, 2009 at 12:54 am
It seems like Kuroame’s the one whose touched a few nerves around here with a wonderfully succint riposte to the racists on this blog : Overcome your upbringing.
There’s no doubt in my mind at this point that the Pope has no problem with the hare-brained xenophobic commentary posted by some of the regulars on this blog. He censors RealPaul, but enables the xenophobes to continue polluting every last thread. How does it feel to let your own blog go from decent to not-so-hot, Pope?
If it were up to me, the xenophobes’ posts would get the boot, not the ones that go harsh on “realtards”. (Thanks for that one, RealPaul!)
But, it’s not up to me, so I am recusing myself from this increasingly irrelevant forum.
Bye Bye.
February 13th, 2009 at 10:01 am
“In what country, right now, are people of Chinese origin not allowed to vote, not allowed to form free trade unions, subject to prison labour, and not allowed to freely live where they want to? I have a little problem with people who get rich exploiting workers under such a system. How about you”
I never said the posters or anglos had a monopoly on racism or exploitation. Classic racist-in-denial arguements. When called on being racist you point to some other marginally related injustice committed by the group you are targeting to confuse the issue; Blame asians for wrecking the “character” of the city and when called on it defend yourself by saying that asians are racist too.