Comments on: Paying off the Village

By: taylor192

taylor192 — Wed, 19 May 2010 18:30:46 +0000

@VHB #102 I think if you find the stats for Mar and Apr you'll find them closer to 2002 and 2007, I remember I saw them somewhere. This May is certainly faltering though.

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

By: Absinthe

Absinthe — Wed, 19 May 2010 16:40:18 +0000

@KWL: I had to go check that out. "Downtown" - which is a big area including Woodwards and Yaletown - by itself is over 500. West End, 270. False Creek North, 239. Coal Harbour, 243. So, over a thousand is a shockingly low level of downtown inventory? At the beginning of the year we had just under nine thousand for Inventory's ENTIRE area. Baghdad Bob, indeed.

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

By: KWL

KWL — Wed, 19 May 2010 16:24:46 +0000

Long time reader first time poster. I don’t know if anyone caught this or not last Tuesday Business in Vancouver had an article on the OV and Bob Rennie stated this:

“The stats are shocking in how little inventory is [becoming available] downtown,” he told reporters during a media tour at the opening of the Vancouver Olympic Village last Saturday.

Is this guy for real? There will be nothing but inventory coming into the market in the next while. I don’t know why no one in the media calls BS on this guy.

The full article is here:

http://tinyurl.com/27d8tb2

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

By: House buyer

House buyer — Wed, 19 May 2010 10:29:08 +0000

@Talking: Fact is fact. there ain't no hatred,only those who are blinded don't understand why Van RE will never meet the same fate as US RE,coz Chinese are prudent and stable homeowners who won't run away from their financial obligation as those US owners. Don't use race issue as a weapon.@House buyer:

Current score: -28 (to vote for this comment, please visit the site)

By: House buyer

House buyer — Wed, 19 May 2010 10:26:27 +0000

@Talking: Fact is fact. there ain't no hatred,only those who are blinded don't understand why Van RE meet the same fate as US,coz Chinese are prudent and stable homeowners who won't run away from their financial obligation as those US owners. Don't use race issue as a weapon.

Current score: -27 (to vote for this comment, please visit the site)

By: Talking

Talking — Wed, 19 May 2010 08:38:16 +0000

@ House buyer What is with the fake chinese accent. Is your life so pathetic that your idea of fun is to pose as an anonymous chinese person claiming they will prop up Vancouver RE in perpetuity in an obvious attempt to incite hatred towards that race? I can't imagine how hollow your life must be to feel the need to do this everyday, are you related to johnny horton?

Current score: 16 (to vote for this comment, please visit the site)

By: Devore

Devore — Wed, 19 May 2010 08:11:08 +0000

@patriotz Indeed that is the correct way to think about this. As someone once remarked, "there are no bad assets, only bad prices". There is a buyer out there for pretty much anything. Gotta meet them on the price.

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

By: House buyer

House buyer — Wed, 19 May 2010 07:20:57 +0000

@Anonymous: C, immense Chinese purchasing power will definitely sustain Van RE perpetually though there might be occasional and minor hiccup but owning a pc of Van RE is the safest investment.Those retarded bear must be blinded and delusive.OPen your eyes,from east to west in Van every block of single-house units are mostly owned either by wealthy or middle class Chinese dwellers and they will stay there for long haul.Even the int rate were tripled in the future,they will just hold on there; also most of them are renting out to supplement their mortgage. American-type default will never happen in Van. Vancouver is a difference city.

Current score: -32 (to vote for this comment, please visit the site)

By: ibought3

ibought3 — Wed, 19 May 2010 07:08:30 +0000

Just checked Jurock's RET site.. it really is a ghost town now. Go Pope!

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

By: DEFAULT NAME

DEFAULT NAME — Wed, 19 May 2010 06:58:50 +0000

@Anonymous: Thats probably in line with the general demographic of Vancouver. We just need to sell them out, to whomever! Otherwise the taxpayers get hurt.

Current score: 2 (to vote for this comment, please visit the site)

By: DEFAULT NAME

DEFAULT NAME — Wed, 19 May 2010 06:57:00 +0000

Don't know if it's true, but from a media source more than half of the OV buyers over the weekend were Asians. The sold units included a $5M penthouse.

Current score: 2 (to vote for this comment, please visit the site)

By: The Pope

The Pope — Wed, 19 May 2010 05:37:33 +0000

@girlbear: The signal to noise ratio was getting pretty bad for a while, so I set a micro-font for downrated posts. I've just reset that to the old style. @Animal Spirit: I know of no case that this has happened and don't believe it would be technically possible for someone to do. The goal was simply to improve the signal to noise ratio.

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

By: crashcow

crashcow — Wed, 19 May 2010 05:34:30 +0000

i`ve incorporated my company today... Rennie Repo Systems.

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

By: Animal Spirit

Animal Spirit — Wed, 19 May 2010 05:00:58 +0000

@girlbear: In at least one case no insight had tagged the downarrow to bring pop ups on to the screen...

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

By: VHB

VHB — Wed, 19 May 2010 04:52:36 +0000

We've added 137.7 net new listings a day this month. With 8 working days left, that would add 1102 more. This would take us to 19,416. We should make 19K in a week or so, but 20K will have to wait until June.

Current score: 42 (to vote for this comment, please visit the site)

By: girlbear

girlbear — Wed, 19 May 2010 04:47:26 +0000

Pope. Question. The posts that have nothing written, but that you have slapped a foreclosure stamp on...did you erase what was written as it was too rude? Just curious.

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

By: Care Bear

Care Bear — Wed, 19 May 2010 04:19:18 +0000

Before having a look at the OV public tour I stopped in at the Pinnacle presentation centre. This particular pile of poo will be situated along 2nd & Crowe. So on the south side is the busy 2nd street and directly north of it is the Foundry. In other words, either noise or obstructed views are in store for all units. Selling for over $600/SF! They told me that Phase I was already sold out. Someone explain this craziness to me!! I think the lower priced units at the OV will sell. There are too many greedy irrational buyers in this city. I think where they will suffer is the $1M plus units. I just don't see many people with that kind of cash forking out for a complex with a mediocre unestablished location, decent views (but not as good as coal harbour and only in very few units), next to social and senior housing. Also, the high end units aren't that special. They have the same finishings as all the other units - same appliances, flooring countertops etc. Only differentiation is size and view. And I don't see that view lasting long with further development expected by Condord on north false creek as well as a school being built on the west side of the development. On The National last night the anchor proclaimed the housing market was still "hot". Sigh. I keep seeing the listings go up but there still seems to be willing buyers at inflated prices. I don't get it.

Current score: 14 (to vote for this comment, please visit the site)

By: paulb.

paulb. — Wed, 19 May 2010 04:11:54 +0000

Thats about it for today New Listings 380 Price Changes 264 Sold Listings 166 18,314

Current score: 80 (to vote for this comment, please visit the site)

By: joeblow

joeblow — Wed, 19 May 2010 03:55:36 +0000

While Jurock provides a platforms for scumbags like Mike Stuart and Sam Dimou (aka Silverman) his biggest fault is allowing sick perverts like Johnny Horton to escape the administrators.

Current score: 18 (to vote for this comment, please visit the site)

By: crashcow

crashcow — Wed, 19 May 2010 03:54:27 +0000

Found a gem of a link.

For anyone interested in learning about the psychological tendencies that cause the human brain to draw incorrect conclusions…fuel the boom and bust of financial bubbles…check out this very cool visual guide:

http://www.scribd.com/doc/3054.....t-Planning

Contents:
The 19 social biases
The 8 memory biases
The 42 decision making biases
The 36 probability biases

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

By: DEFAULT NAME

DEFAULT NAME — Wed, 19 May 2010 03:54:15 +0000

@Boombust: Boombust, I'm the "proxy" poster, I checked out the stats on visits to his blog, and discovered most were directed through this site. I can't understand why The Great One- The Pope provides a link. Chipman is the most shameless, most useless on the web.

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

By: wreckonomics

wreckonomics — Wed, 19 May 2010 03:49:14 +0000

@VHB: Loved the Rennie quote from the article after selling only 36 of 474 units at the Olympic Village: "I'm happy, really happy. We're ahead of schedule." Thought that was perfect for your False Creek Bob forum topic, so I made this.

Current score: 21 (to vote for this comment, please visit the site)

By: paulb fan

paulb fan — Wed, 19 May 2010 03:36:49 +0000

@anonymous: How many here believe that Johnny is the pimp Jurock himself? Click on the up arrow if you do. I do.

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

By: Boombust

Boombust — Wed, 19 May 2010 03:30:56 +0000

"Its really tragic how many unsuspecting lemmings they herd off the proverbial cliff." ON THE OTHER HAND, there are/were a LOT of people who, presented with compelling evidence that this was the biggest bubble in history, simply shrugged their shoulders and bought anyway. I feel very little sympathy for them.

Current score: 40 (to vote for this comment, please visit the site)

By: Johnnyrent

Johnnyrent — Wed, 19 May 2010 03:19:55 +0000

So in other words, we're "on pace" to equal the second-to-lowest year for sales in the past decade (yeah, that's a strong showing). You have to hand it to the real estate community, those vested in them (economists) or supported by them (mainstream media). There are no better spin doctors. Its really tragic how many unsuspecting lemmings they herd off the proverbial cliff.

Current score: 17 (to vote for this comment, please visit the site)