Comments on: May 2009: prices up and down

By: Supraboy

Supraboy — Thu, 04 Jun 2009 22:52:50 +0000

Commodity prices are rising, Goldman Sachs predicting $85/barrel oil in 2 months, stock markets continue to climb, inflation ready to set in, get real, middle class workers will never get a sniff of properties in Vancouver West. I rather keep them away from the West side since the middle class in Vancouver are narrow-minded. Best they can do is live in burnaby. Burnaby is a dump.

Current score: -10 (to vote for this comment, please visit the site)

By: Supraboy

Supraboy — Thu, 04 Jun 2009 22:49:40 +0000

The people on this site are getting more and more desperate in hoping for a market meltdown in real estate. If it hasn't fallen, it ain't going to fall boys and girls. Keep on hoping to get your hands on a cheap piece of land. I can bet anyone that by this time next year, you'll see housing prices higher by at least 10%. I'm about to put an offer on a 1.475 million dollar home near kerrisdale. I'll rent it out for the remainder of the year and take it down next year. I think I should be able to list a new home on that land for at least 3.25million to start.

Current score: -12 (to vote for this comment, please visit the site)

By: Anonymous

Anonymous — Thu, 04 Jun 2009 22:15:12 +0000

gvrdpropertyowner: "Nevertheless, the inference was (correct me if I am wrong) that if one knows the base population, one can then reliably, and accurately, predict the level of new construction which is required to house that population." No he is inferring that population growth is reasonably consistent so there should be a relationship between base population and housing starts. Whatever, though. As mentioned, dwelling growth should be around 10,000 to absorb in-migration. Most demos that destroy existing stock make way for higher density properties so likely no help there.

Current score: 0 (to vote for this comment, please visit the site)

By: Deliverator

Deliverator — Thu, 04 Jun 2009 20:24:29 +0000

Sorry this might be off topic. But could this be the cause of 2nd wave of the global economic crisis?

http://www.telegraph.co.uk/fin…..weden.html” target=”_blank”>http://www.telegraph.co.uk/fin…..weden.html

Yes. That and potential failed UK and US bond auctions.

Current score: 1 (to vote for this comment, please visit the site)

By: patriotz

patriotz — Thu, 04 Jun 2009 19:43:54 +0000

realpaul: The government is setting up these ideas so that they can move legislation and zoning wish lists submitted by the development community for the benefit of the politicians and development community. The more excess supply that is built, the better it is for the buyers and the worse it is for the sellers. Build baby build.

Current score: 5 (to vote for this comment, please visit the site)

By: Bdk and Sofia

Bdk and Sofia — Thu, 04 Jun 2009 19:27:24 +0000

V:VB2,It is written. Hey Vancouverrrrrrrr-Jai Ho! baila! baila (Dance!Dance!) Come on,Come on my life Under the canopy Come on,come on under the blue brocade sky!-Jai Ho! vancouverboom2 success runing like a fire every buyers/sellers entering,ticking the prices higher-Jai Ho! come on bears stop coming in my way Longer you'll wait larger you need to pay-Jai Ho ! "*TriumphHhhhhhh -Vancouverboom2-Jai Ho!*".- It's getting hot and hot in here in Vancouver where all buyers include first time,second time buyers along with buyers from usa,uk,europe,and overseas have been buying and cheering on the crash of fear that proved to be dumb theory when it comes to apply on Vancouver,Different planet!.No more down turn in decades to come in the "best place on earth".Everyone wants to live in Vancouver to develop themself in most decent multicultural society of this world,Who says you can't ? han? Vancouver Real Estate, Rock Solid Heart Touching!!!!!You don't know? What a joke sheesh!Just bring in your suit case and you are good to shoot the numbers UP(/).So buy without fear and buy everywhere in Vancouver because hey Vancouver real estate,Vancouverboom2 with it's extreme speed and countinue strength "The Vancouver Real Estate Consumer Confidence -Jai Ho!".Virtually poised to never go down.-

Current score: -11 (to vote for this comment, please visit the site)

By: realpaul

realpaul — Thu, 04 Jun 2009 18:58:50 +0000

An idea some may want to consider regarding the projected pop growth. The vast majority of new immigrants are poor and have a social and cultural propensity to live together as very large extended families in a SINGLE unit. This would indicate that condo's will not be of intrest to the majority of new purchasers. I know families who convert thier garages and concrete over the lawn as opposed to all moving out on thier own. Based on what I see, you can cut the number of projected units needed by pop growth by a factor of ten at least. as always the city planners have thier head up thier asses. The government is setting up these ideas so that they can move legislation and zoning wish lists submitted by the development community for the benefit of the politicians and development community.

Current score: 5 (to vote for this comment, please visit the site)

By: gvrdpropertyowner

gvrdpropertyowner — Thu, 04 Jun 2009 16:56:14 +0000

Anon "I think that’s exactly what he’s stating. Do you see a flaw with this methodology?" "seems straight-up on first glance and starts would tend underestimate dwelling growth due to demolitions. Population growth is x, r people per dwelling, so dwelling growth needs to be x/r." Ignoring the effect that changes in the total population have on housing requirements. Certainly, X people would require Y housing. However, I believe that the required replacement- of said housing- would be a function of the age and condition of the housing; and, in turn, how it relates to the current and future needs of the population. Does the gentrification of B.C.'s population have an effect on housing? As such, knowledge of the total population is only useful if it can be used to prorate the results from other know populations- if they are similar. Nevertheless, the inference was (correct me if I am wrong) that if one knows the base population, one can then reliably, and accurately, predict the level of new construction which is required to house that population. Let's use an example. Russia has a population of ~ 140 million; therefore, Russia need to build 140,000 homes this year. Uganda's population is ~ 31 million; therefore, Uganda should build 31,000 homes. Does this accurately describe the housing needs of these two countries? The level of construction activity is material, in that, it indicates future supply; and,more importantly- future jobs. However, I agree, low yield rates are, probably, the most concerning variable to bulls. Although, I have never done the research, I would not be surprised: if one could purchased a million dollars of real estate in a place such as Phoenix, and live(rent) in Vancouver for free (using the income from their investment properties). Anon, you and I might have different- and legitimate- interpretation of the same data- who knows. However, BS is BS. This blog will become a waist of time: if I have to spend time checking the validity of the data, which is used to support augments; and, contemplate (intentionally?)dubious logic- I think I will go outside.

Current score: -1 (to vote for this comment, please visit the site)

By: Rick

Rick — Thu, 04 Jun 2009 16:51:05 +0000

Sorry this might be off topic. But could this be the cause of 2nd wave of the global economic crisis?

http://www.telegraph.co.uk/finance/financetopics/…

Current score: 3 (to vote for this comment, please visit the site)

By: dingus

dingus — Thu, 04 Jun 2009 16:25:47 +0000

"methinks Dave is a glutton for punishment." methinks an echo chamber is boring (how many ways can you say "look out below"?), so props to Dave for making people justify their positions and at least keeping some sort of dialogue going. Disagreeing with the consensus isn't being a troll.

Current score: 7 (to vote for this comment, please visit the site)