Comments on: New home prices fall for 9th month

By: Greg

Greg — Thu, 13 Aug 2009 19:55:31 +0000

#47 - I saw oil going up for a long time as well, did you jump into the market? I mean - did you see what was going on? Oil was going up, all this crazy talk of a bubble and speculation were garbage, i'm sure you just looked at what was going on and piled your dollars into a sure investment. Hmm... But then what happened? Do some research of market cycles and bubbles, japan, the tulip bulb manaia, dot com, US housing... The one thing about 100% of the people that said "This time it's different"? They were all wrong.

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By: Vic

Vic — Thu, 13 Aug 2009 12:46:06 +0000

To be honest, I am doing research on the market and my future home purchase. I can't just go out a buy a house on the spot — location, size of house, size of lot, price tag, schools…all need to be in the right balance. Its a home for me…not a 10% to 20% per year yielding bond. I use open houses as a surveying tool…with out getting an agent involved. When I bought a home with my parents in 1999, it took 3 years of research to find the right home for them. Today…with my family, I expect the same and I only started looking this year.

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By: Can't stop Asia

Can't stop Asia — Thu, 13 Aug 2009 07:55:42 +0000

Vic That's Burnaby, check out Vancouver,esp westside.

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By: jeez

jeez — Thu, 13 Aug 2009 07:44:19 +0000

Vic: isnt that who you would expect to be shopping for a house? for the average entry level home thats your support market.

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By: Vic

Vic — Thu, 13 Aug 2009 02:53:02 +0000

I have been going to open houses in Burnaby for the last couple of months and I do notice a trend. I notice a lot of young families looking for homes. Young families with toddlers and infants who feel a condo isn't a place to raise a child. Sure... I see the occasional immigrant but I see 3x more young families than affluent asian immigrants. As for #47....if you open your eyes...and turn your head to the east. Things aren't looking so good. Take Ontario -- auto industry = dead. Look north -- BC Forestry = almost dead. And if you look a little furthur...Ireland and Iceland are experiencing a crisis that makes the US Depression look like a speed bump. I am not too sure about you but things don't look too rosy.

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By: Gregg

Gregg — Thu, 13 Aug 2009 02:15:54 +0000

Video..Vancouver price crash

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By: Anonymous

Anonymous — Thu, 13 Aug 2009 01:38:38 +0000

"aren’t asians supposed to be good at math? So, whytf would they be buying?" Maybe "they" know something you don't. Cap rates in Taiwan are around 2%. How's that for a return on investment. It ain't just Vancouver that has horrible fundamentals but "they" keep on buying. Truth is, many people who grew up in Asia are so used to other types of investment being so unregulated that they put a huge premium on real estate. It's fatally flawed because most are levered despite the "briefcases of money" myths I keep hearing about. Without rental income, the cash flow root system rots away and prices tumble. Happens every time, even in Asia, but the smell o' money is just too good so here we go again. Enjoy the rental subsidy, I say. If you want, sign a 3-year lease if you want stability. It beats buying by a country mile.

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By: Girlbear

Girlbear — Thu, 13 Aug 2009 01:21:34 +0000

Had drinks with a friend the other night. She lives in Kerrisdale/Shaughnessy area. Neighbours got busted by RCMP - apparently pretty big drug dealer. All assets siezed. House has been put up for sale - in foreclosure. Apparently bank put it up for sale at $1.6M. She was quite shocked as it sold a couple of years ago for $2.6M. Hhhhhmmmmm.

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By: Can't stop Asia

Can't stop Asia — Thu, 13 Aug 2009 01:07:32 +0000

LV favorite of Asians.

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By: Raincouver

Raincouver — Thu, 13 Aug 2009 00:58:12 +0000

Olympic rentals slow off the mark The website “rent2010.net” has so far rented only 15 per cent of the 1,200 properties listed I caught that story on Global early news. They said the reason for that is greed, and went on to point out a Burnaby apt. owner asking $12,000 for two weeks. They then went on to say that visitors might not have a choice because all the Vancouver hotels were booked up. So I went on Expedia and checked it out. I randomly picked a few days in February and there were 8 pages of hotels still booking rooms. WTF?

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