Downtown Vancouver: If listings were buildings
If listings were floors in a building Spectrum would be the tallest building in Downtown Vancouver. This infographic shows an imaginary skyline based on number of units for sale in a few of the new buildings downtown based on Supersogs post from Monday.
Lots of properties out there for sale, not just in the downtown core. Listings for the entire REBGV region have been accelerating lately a lot faster than they did in previous spring markets. We’re close to adding 1000 new listings a week. Even the spring before the 2009 market dip didn’t see listing rise this fast. As of last night the inventory count was at 16,741.
April 28th, 2010 at 10:40 am
@tomvu:
That's funny. Simple technical analysis first points to a double top in prices.
How can there be a base at $1mm? Prices just got there. The 1990s were basing.
By any technical measure the market is way overbought. Then you add the fundamentals……..and the conclusive result is SELL or SELL SHORT.
April 28th, 2010 at 10:31 am
tomvu Says: (post 94)
April 27th, 2010 at 10:55 pm
What we’re seeing is clearly a hockey stick formation with major support at the million dollar level. A 1 million dollar base is now established according to my charts. I spent hours on technical analysis of this market and there’s no way it’s going down bears. What we’ll see in the coming weeks as more and more supply comes on the scene more and more buyers will buy. It’s like chumming shark infested waters bears. Once a shark smells the chum it bites.
Hey, didn't someone used to run a RE prediction tracker? This is a prime candidate for inclusion, especially since it's backed up by words like "clearly" and "there's no way it's going down". That way, interested parties can point to this prediction as an indicator of your reliability once the market starts to play out.
So, tomvu, what reliability do your projections have? What statistical work have you done? What assumptions about the market do you make? On what data are you basing your prediction of an increase in sales to match the increasing number of listings?
In short, put up or shut up. Back up your claims or GTFO our internet, you feckless troll.
April 28th, 2010 at 9:00 am
…in a smokey and dim piano bar, a new condo owner eases up beside the "condo king" for a word of encouragement.
So sing me a song you're the strata man
Cause I'm near insolvent tonight
I was bold…now I'm broke
With this negative cash flow
Just tell me everything's gonna be alrignt.
…oh na na na na…
April 28th, 2010 at 7:30 am
@granite countertop: Luxury is a funny thing, when it becomes commonplace it's no longer a luxury. It used to be that owning a car was a luxury, now someone who works at an entry level job can have one. I suspect granite countertops are no longer the luxury draw many people hoped they would be.
April 28th, 2010 at 6:38 am
@Inventory:
wow what a shocking rise!
April 28th, 2010 at 12:54 am
@Animal Spirit: chicks dig 120Mb spreadsheets
April 28th, 2010 at 12:15 am
@Inventory:
Apr 19, 2010 = 16,088 **
Apr 20, 2010 = 16,305
Apr 21, 2010 = 16,340
Apr 22, 2010 = 16,496
Apr 23, 2010 = 16,579
Apr 26, 2010 = 16,741
Apr 27, 2010 = 16,846
Apr 28, 2010 = 17???
RIP 16K…we hardly knew you