Have we hit bottom yet?

I don’t know if the real estate market in Vancouver has ever only declined for one year, particularly at the beginning of a global recession, and I know what most of you think about that question anyways, so I won’t ask if you think we’ve hit the bottom of the real estate correction..

I am however seeing encouraging signs that we’ve hit bottom of the bursting real estate bubble blog bubble though, despite the disappointing news yesterday of Condohypes closure.  We originally called this bubble at the beginning of 2007, and at the start of this year we reported on the apparent bursting of the bubble blog bubble.  Now however, we get news that Fish is back.  That link has been updated on the links to the right, along with a belated correction of the link to Housing Analysis.

Is this just a spring bounce or the return of the Vancouver bubble blog bubble? Either way we’re always like to see new independent sources of information and opinion on the Vancouver real estate market, even if they’re old sources.

So when you change your mind Condohype, we’ll be happy to welcome you back.

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Enduser
Enduser
11 years ago

There might still be hope:

https://www.blogger.com/comment.g?blogID=59224638

"

Gavin said…

Where did the stats go????

I was told by the fine folks at real page that they were upgrading me to a new "improved" site today and EVERYTHING would be transferred over. To my suprise i see not only does it look like crap but all the stats are gone and i now have no access to the back end.

I will call them first thing in the AM to see whats going on.

I'm not amused!!"

patriotz
11 years ago

REBGV detached benchmark for March down again to $649,342. Now -15.8% or $121,979 off peak.

So much for the market bottom and spring rally.

http://robchipman.net/blog/

YLTNBoomerang
YLTNBoomerang
11 years ago

So much for Paul Boenisch's buddy Gavin Hughes keeping the website going, he has replaced it with this ugly mess:

http://www.nvcondos.ca/

The worst part is that he has linked in to MLS's horrible, non user friendly map based search tool so too bad for us that are tracking using the standard Vancouver West, False Creek North criteria.

Does anyone know of another agent that provides email updates based on the old system like http://www.realtylink.org?

I was going to use Paul as an agent but don't know about this Gavin guy.

Anonymous
Anonymous
11 years ago

blueskies:Bear realtors and bear economists have no place to live these days even chicken shack price went up.Market was showing stability since you never find $400.000 price reduction.When was that last time? September 2008——- gone baby gone.

Anonymous
Anonymous
11 years ago

Metro Vancouver Real Estate Sales bounce back. but i suppose march sales are always better than feb? and i would guess it's still lower than last year…

blueskies
blueskies
11 years ago

Enduser:

yes i noticed that gavin h has a

"real estate" site

no blog for comments

and no price stats

or charts……WTF?

toxic
toxic
11 years ago

Warren:

#52 What good is the gyrating stock market to the unemployed? Will they take thier last EI cheques and become day traders?

carpenter
carpenter
11 years ago

#55 – here are the latest rbgv stats if that helps:

http://www.rebgv.org/sites/default/files/REBGV%20

realpaul
realpaul
11 years ago

xyz:

#49, Intrest rates may be at an all time low but as the Credit Suisse banker said " A 10 to 20 % discount may not be enough when prices are still 50% to high".

Hmmmmmmmmm a banker with no commission on the line or a shit for brains real tard who needs an excuse to go and get pissed. Tough choice, not!

Enduser
Enduser
11 years ago

We used to get updates on nvcondos.ca for the latest monthly stats. With the new website version, does anyone know where we can find the March figures?

realpaul
realpaul
11 years ago

Spectrum:

#47 Spectrum, The owner of 'Brix' bar restaurant in yaletown was just interviewed in the Province newsrag a few days ago and he said that the bars and restaurant business was so bad that most business owners were barely hanging on hoping for better days. I think I'd believe that guy rather than some others who have no direct knowledge or experiance.

Spectrum
Spectrum
11 years ago

The stock market is going through a bear trap right now, before the next bear run will start.

Warren
Warren
11 years ago

No bottom yet for RE that's for sure. Possibly for the stock market though.

Anonymous
Anonymous
11 years ago

also supraboy it's no one on here's fault that you live with your parents and have never even kissed a girl.

Why don't you go for a drive to Surrey in your surrey supra

Anonymous
Anonymous
11 years ago

Supraboy, I have a family member who was just laid off from one of the best restaurants in yaletown because business is so bad. Ask teh waitress or waiter next time.

Lunch time is not profitable for the restaurants.

Give it up, pretending to be an idiot was funny for the first few posts but it's gotten old.

xyz
xyz
11 years ago

I was looking at a condo in North Delta the other day just for the hell of it, and was speaking with the RE agent, he was trying to tell me that everyone is buying now because they are coming to the realization that the interest rates are so low and now is the time to take advantage of it! Condos/houses pricing may drop, but interest rates will soon double. He said business has never been better!

Boombust
Boombust
11 years ago

"Goes to show that we’re in boom times, not bust times."

This city/province of ours has ALWAYS been the "last in" and the "last out" of any recession.

You'll see.

Spectrum
Spectrum
11 years ago

That could be true for lunch time, but anytime I go to Yaletown at night, always empty.

Supraboy
Supraboy
11 years ago

#45, Spectrum Everyone will use the entertainment book on Yaletown Restaurants. Whenever I pass by the Yaletown Brewing Co. I see it packed with people. Go to Milestones during lunch hours, there's always a lineup, same with the Urban Thai. Maybe we should all meet up at Yaletown and I'll show you the truth, and it will hurt the bears because you'll see an economic boom in that area. Everyday, when I head out for lunch, I try to look for the cheapest deals, then when I pass by a cactus club or milestones, I see obese men with hot white blondes waiting in line for a table. I recalled 5 yrs back, $10 can get me burgers and fries at restaurants, now $10 can't even get me an appetizer. Goes to show that we're in boom times, not bust… Read more »

Spectrum
Spectrum
11 years ago

Steamworks is full of business people that can afford $10 burgers and $6 beers. You want to see empty restaurants, go to Yaletown, all the restaurants there are empty during the week now. Who wants to spend $24 on a sub par entree and $8 for drinks when your condo is losing around ~4% a month? If I am going out for dinner these days, I'm bringing my Entertainment book with me.

truthin'adverti
truthin'adverti
11 years ago

I have to give kudo's to Dean Beauvais who wrote a letter to the editor of the Richmond Review stating,

" We should be ashamed of ourselves for being so easily led by the government. Manipulating statistics and skewed reporting of them has become the single most determining factor in governments ability to control the public. Facts and reality are out the door."

Well said Dean, where ever you are.

cashisking
cashisking
11 years ago

FASB mark to market rules changed b/c of political interference … now the banks get to "make up" the values … IF ANYONE thinks this is a good idea they have their head so far up there arse ….

Dave
11 years ago

Anonymous:

What do you have against engineers? Did somebody hang your car off a bridge?

thefixisin
thefixisin
11 years ago

The BC LIBs are trolling deep into NDP territory now. The bad news is piling up in every corner, crime policy is a failure, economic policy is a failure, layoffs are up, industries are crashing, Olympics admit big losses coming, Translink screws the pooch for an additional prop tax etc etc. So NOW the latest trial balloon is Legalizing Pot Bwahahahahahahh. They are really bereft of new ideas. Laughable. Wait for it and just imagine all the never to be completed announcements to come. We'll have universal daycare, free dentures for the toothless, a chicken in every pot. I'm nauseous already from the smell of this bullshit. B.C. MP to ask the government to decriminalize marijuana Katie De Rosa, Canwest News Service Published: Thursday, April 02, 2009 More On This Story Colby Cosh on legalizing marijuana: Barbara Kay vs. Mary… Read more »

deathspiral
deathspiral
11 years ago

More with the "seasonally adjusted" BS. The truth is that there are probably a million or more monthly layoffs in March as has ben reported by private statisticians. The government thinks you're going to jump out the window or take to the streets if they tell the truth. New jobless claims jump in U.S. CHRISTOPHER S. RUGABER Thursday, April 02, 2009 WASHINGTON — The number of people filing new jobless claims jumped unexpectedly last week, while those continuing to receive benefits hit a 10th straight record-high. Both figures show the labour market remains weak and is unlikely to recover any time soon. The Labor Department said Thursday that initial claims for unemployment insurance rose to a seasonally adjusted 669,000 from the previous week's revised figure of 657,000. That total was above analysts' expectations and the highest in more than 26… Read more »