Comments on: Froogle Scott buys a Vancouver house http://vancouvercondo.info/2010/01/froogle-scott-buys-a-vancouver-house.html Bubble? What Bubble? Sat, 11 Sep 2010 00:51:55 +0000 http://wordpress.org/?v=2.9 hourly 1 By: The Pope http://vancouvercondo.info/2010/01/froogle-scott-buys-a-vancouver-house.html#comment-62811 The Pope Wed, 27 Jan 2010 05:26:02 +0000 http://vancouvercondo.info/?p=1660#comment-62811 Sure thing VREAA, it's a good read. Please post a link on this site when the next installment goes live.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-62811">0</span> <small>(to vote for this comment, please visit the site)</small></p> Sure thing VREAA, it’s a good read. Please post a link on this site when the next installment goes live.

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]]> By: vreaa http://vancouvercondo.info/2010/01/froogle-scott-buys-a-vancouver-house.html#comment-62807 vreaa Wed, 27 Jan 2010 04:08:29 +0000 http://vancouvercondo.info/?p=1660#comment-62807 Thanks for the posting, pope. The second episode comes out later this week. It deals with house price appreciation and how the thought of accumulating all that money affects one's life.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-62807">0</span> <small>(to vote for this comment, please visit the site)</small></p> Thanks for the posting, pope.
The second episode comes out later this week. It deals with house price appreciation and how the thought of accumulating all that money affects one’s life.

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]]> By: BCite http://vancouvercondo.info/2010/01/froogle-scott-buys-a-vancouver-house.html#comment-62649 BCite Mon, 25 Jan 2010 23:42:42 +0000 http://vancouvercondo.info/?p=1660#comment-62649 Woah 9 times income. Craaazy!<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-62649">0</span> <small>(to vote for this comment, please visit the site)</small></p> Woah 9 times income. Craaazy!

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]]> By: chadmpnp http://vancouvercondo.info/2010/01/froogle-scott-buys-a-vancouver-house.html#comment-62606 chadmpnp Mon, 25 Jan 2010 18:38:55 +0000 http://vancouvercondo.info/?p=1660#comment-62606 Bull trolls? You idiot bears have been calling for a huge decline for years yet the market continues to make new highs. The "trolls" have been right, the bears have been DEAD WRONG.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-62606">-10</span> <small>(to vote for this comment, please visit the site)</small></p> Bull trolls? You idiot bears have been calling for a huge decline for years yet the market continues to make new highs. The “trolls” have been right, the bears have been DEAD WRONG.

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

]]> By: logic http://vancouvercondo.info/2010/01/froogle-scott-buys-a-vancouver-house.html#comment-62604 logic Mon, 25 Jan 2010 18:18:46 +0000 http://vancouvercondo.info/?p=1660#comment-62604 Yet still the bull-trolls will deny the inevitable correction.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-62604">4</span> <small>(to vote for this comment, please visit the site)</small></p> Yet still the bull-trolls will deny the inevitable correction.

Current score: 4 (to vote for this comment, please visit the site)

]]> By: happyday http://vancouvercondo.info/2010/01/froogle-scott-buys-a-vancouver-house.html#comment-62602 happyday Mon, 25 Jan 2010 18:14:38 +0000 http://vancouvercondo.info/?p=1660#comment-62602 same here: http://www.financialpost.com/news-sectors/story.html?id=2482163 Vancouver 'severely unaffordable', study shows<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-62602">3</span> <small>(to vote for this comment, please visit the site)</small></p> same here:

http://www.financialpost.com/n.....id=2482163

Vancouver ’severely unaffordable’, study shows

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

]]> By: happyday http://vancouvercondo.info/2010/01/froogle-scott-buys-a-vancouver-house.html#comment-62601 happyday Mon, 25 Jan 2010 18:12:26 +0000 http://vancouvercondo.info/?p=1660#comment-62601 news link of the day: http://www.news1130.com/radio/news1130/article/20419--most-unaffordable-housing-market-in-the-world-vancouver "Most unaffordable housing market in the world? Vancouver. The average house is more than nine times the average annual salary.. Vancouver is number one but it's not exactly the best list to top. A report by the Frontier Centre for Public Policy shows Vancouver has the most unaffordable housing market in the world..."<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-62601">4</span> <small>(to vote for this comment, please visit the site)</small></p> news link of the day:

http://www.news1130.com/radio/.....-vancouver

“Most unaffordable housing market in the world? Vancouver.
The average house is more than nine times the average annual salary..

Vancouver is number one but it’s not exactly the best list to top. A report by the Frontier Centre for Public Policy shows Vancouver has the most unaffordable housing market in the world…”

Current score: 4 (to vote for this comment, please visit the site)

]]> By: patriotz http://vancouvercondo.info/2010/01/froogle-scott-buys-a-vancouver-house.html#comment-62600 patriotz Mon, 25 Jan 2010 17:13:39 +0000 http://vancouvercondo.info/?p=1660#comment-62600 @<a href="#comment-62599" rel="nofollow">rp</a>: And when you read about it in the G&M you know that the movers and shakers have already been talking about it. There is only one thing that will bring any sense to the "Conservatives", and that's if the bond markets start getting ugly with the GoC. No doubt they have already been told quietly to get their act together and that if CMHC guarantees and debt don't get capped soon we are going to be looking at a downgrade in the GoC's credit rating. Which would result in higher interest rates for all CAD debt. But if they cap CMHC's guarantees, that will bring down the house of cards in BC and other overpriced RE markets, and wreck CMHC's, and thus the GoC's, balance sheet. No way out. The Cons decided to play the dangerous game of inflating a Canadian housing bubble to try to create a false impression of prosperity and they are going to lose it. One blooper in the article: <blockquote>It's a no-brainer for banks that want to originate (i.e. sell) mortgages but not keep them on the balance sheet</blockquote> The originator, i.e. the first lender, <b>buys</b> the mortgage from the borrower, like any other debt instrument. It can then sell the mortgage to another party to get it off the books.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-62600">6</span> <small>(to vote for this comment, please visit the site)</small></p> @rp:
And when you read about it in the G&M you know that the movers and shakers have already been talking about it.

There is only one thing that will bring any sense to the “Conservatives”, and that’s if the bond markets start getting ugly with the GoC. No doubt they have already been told quietly to get their act together and that if CMHC guarantees and debt don’t get capped soon we are going to be looking at a downgrade in the GoC’s credit rating. Which would result in higher interest rates for all CAD debt.

But if they cap CMHC’s guarantees, that will bring down the house of cards in BC and other overpriced RE markets, and wreck CMHC’s, and thus the GoC’s, balance sheet. No way out.

The Cons decided to play the dangerous game of inflating a Canadian housing bubble to try to create a false impression of prosperity and they are going to lose it.

One blooper in the article:

It’s a no-brainer for banks that want to originate (i.e. sell) mortgages but not keep them on the balance sheet

The originator, i.e. the first lender, buys the mortgage from the borrower, like any other debt instrument. It can then sell the mortgage to another party to get it off the books.

Current score: 6 (to vote for this comment, please visit the site)

]]> By: rp http://vancouvercondo.info/2010/01/froogle-scott-buys-a-vancouver-house.html#comment-62599 rp Mon, 25 Jan 2010 16:34:36 +0000 http://vancouvercondo.info/?p=1660#comment-62599 CMHC bank subsidy and public liability attracts MSM attention: http://www.theglobeandmail.com/globe-investor/investment-ideas/features/vox/bankers-get-the-bonus-and-government-takes-the-risk/article1442688/<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-62599">4</span> <small>(to vote for this comment, please visit the site)</small></p> CMHC bank subsidy and public liability attracts MSM attention:

http://www.theglobeandmail.com.....le1442688/

Current score: 4 (to vote for this comment, please visit the site)

]]> By: joycer http://vancouvercondo.info/2010/01/froogle-scott-buys-a-vancouver-house.html#comment-62597 joycer Mon, 25 Jan 2010 16:06:08 +0000 http://vancouvercondo.info/?p=1660#comment-62597 Couldn't believe the way that realtor behaved. Realtors are today's stock brokers. The internet basically wiped out most of the redundancy in stock brokers, the hefty commissions they charged, and basically removed the middle man. The Competition Bureau of Canada attacked MLS for not letting consumers have direct access last fall. Let's face it, if that happened that would dramatically reduce the amount of people using real estate agents. Even if they don't end up opening up MLS (which they probably won't), Google has already started the wheels in motion: http://maps.google.com/help/maps/realestate/ This just in... Home sales down 17% in December for the US where the median home is 178K and the incentive of $8000 for first time home buyers still can't reflate their markets. Guess those rebates didn't actual create demand, it just stole it from future buyers. Canada's housing sales surged 75% higher in 2009 over 2008 due to the emergency interest rate cuts and a surge in CMHC's insurance ceiling. Wonder how much demand was stolen from 2010 for us?<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-62597">7</span> <small>(to vote for this comment, please visit the site)</small></p> Couldn’t believe the way that realtor behaved. Realtors are today’s stock brokers. The internet basically wiped out most of the redundancy in stock brokers, the hefty commissions they charged, and basically removed the middle man. The Competition Bureau of Canada attacked MLS for not letting consumers have direct access last fall. Let’s face it, if that happened that would dramatically reduce the amount of people using real estate agents. Even if they don’t end up opening up MLS (which they probably won’t), Google has already started the wheels in motion:
http://maps.google.com/help/maps/realestate/

This just in… Home sales down 17% in December for the US where the median home is 178K and the incentive of $8000 for first time home buyers still can’t reflate their markets. Guess those rebates didn’t actual create demand, it just stole it from future buyers. Canada’s housing sales surged 75% higher in 2009 over 2008 due to the emergency interest rate cuts and a surge in CMHC’s insurance ceiling. Wonder how much demand was stolen from 2010 for us?

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

]]> By: Don Lapre http://vancouvercondo.info/2010/01/froogle-scott-buys-a-vancouver-house.html#comment-62596 Don Lapre Mon, 25 Jan 2010 15:54:20 +0000 http://vancouvercondo.info/?p=1660#comment-62596 First!!!!<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-62596">-13</span> <small>(to vote for this comment, please visit the site)</small></p> First!!!!

Current score: -13 (to vote for this comment, please visit the site)

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