Treasure trove of mortgage data
VHB pointed out this site on Thursday: Canequity provides actual data for their mortgages across Canada including here in Vancouver. One of the frustrations of anyone trying to study the housing market in Canada is the dearth of publicly available data compared to the United States, so it’s nice to find a source of some data when it comes to Canadian mortgages. Here’s their chart of product inquiries as one example:
Take a look through all the data they make available – here’s Toronto and here’s Alberta. Locally there’s info for BC and Vancouver. If anyone wants to do a breakdown of anything interesting that they find, we’ll be happy to publish that here.
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July 19th, 2010 at 7:43 am
Thanks for the link VHB, Pope.
One warning: The ‘Product popularity’ pie chart that you’ve linked seems to be based on their own internal ‘Mortgage Application Form Type’ rather than fully describing mortgagee types.
For instance, a FTB may use No Down and Variable Rate, but on the chart they’d simply fall under one of those classifications.
So the data in that section is of limited value.
July 19th, 2010 at 7:56 am
Yeah it’s the stuff they’re not releasing that would be the most interesting, including total loan amounts, LTV, DTE ratios, with distributions etc. They data may be skewed because major lending institutions are not directly included.
Anyways, it’s interesting, but too many missing pieces to garner anything earth-shattering.
July 19th, 2010 at 8:16 am
I find the fact that there is a “No down” section of the pie interesting. Definitely doesn’t match the story we’ve been told about our prudent lending institutions in Canada. Not that most readers of this blog are going to be surprised, still it’s interesting to see it in print so to speak.
July 19th, 2010 at 8:24 am
The fireworks are going to be amazing. It’s great seeing all the people from around the world enjoying downtown Vancouver. It’s times like this you really see why vancouver is a world class city and such a desirable place to live.
July 19th, 2010 at 8:48 am
@Rob A.:
The world will also enjoy views of me and my posse
urinating on all the townhouses off Beach ave
right after the event.
July 19th, 2010 at 8:50 am
If only other cities had firework displays. If only.
July 19th, 2010 at 9:22 am
Rob A:
You need to get out more. Cities all over the world have fireworks displays. And without the wannabe gangsters from the burbs who come to cause trouble. Oh, and in most cities around the world I could watch them while enjoying a glass of wine. But sadly no, were not sophisticated enough to be able to handle a few drinks out in public without wanting to start fights.
July 19th, 2010 at 9:40 am
@Rob A: You forgot to use <sarcasm> and </sarcasm> tags to surround your comments regarding fireworks and vancouver being a world class city. Otherwise you would have been voted up to a gold star by now.
July 19th, 2010 at 9:44 am
Interesting that the average (yeah, median would be nicer…) age of applicants is 38. Is that high? I would have thought a “normal” market would have people settling down in their early to mid thirties.
I hope that 78 year old has life insurance.
July 19th, 2010 at 9:54 am
@Rob A.:
Oh there will be fireworks in Vancouver. It’ll be of the foreclosure, price reduction variety.
Forget the crowd downtown. One could enjoy these fireworks from the comfort of their “home”. Please pass the popcorn.
July 19th, 2010 at 9:55 am
@kwl: I will enjoy the fireworks sipping on a glass of wine, in fact, from the balcony of my rental.
July 19th, 2010 at 9:59 am
Union greed for tax revenue and incompetant government drives parking prices higher.
http://www.vancouversun.com/Ec.....story.html
July 19th, 2010 at 10:31 am
Rumour is this condo is being sold by Jean Claude Van Damme.
http://www.realestatetalks.com.....88dc348423
Asking price dropped by more than $3.0M already.
Well that’s what happens when all the washed up actions star
get a role in The Expendables but they forget to call your ass.
Have fun hanging out with Dolph Lundgren. Or go back to teach
ballet in Belgium.
July 19th, 2010 at 10:34 am
San Jose CA, lays off all civic workers and ‘rents’ employees instead, saves taxpayers millions. Britian, US cities and soon Canada will find this model practical and affordable.
http://online.wsj.com/article/.....atsNewsTop
like it or not…this is the furture.
July 19th, 2010 at 10:38 am
@arbitrage: Dont forget that many purchases are by move up buyers. I would expect many people own a condo, get married, sell it and still need a mortgage to buy an SFH. I also wouldnt be surprised if people downgrading get a mortgage for a short time while they sell their other house. A friend of my mom recently sold her SFH (kids are all moved out now) and bought a condo. She took a brief mortgage for the condo purchase because she found one she liked and her SFH hadnt sold yet. As soon as the SFH sold she paid off the mortgage, but I think this would still count in these stats, pushing the average up.
July 19th, 2010 at 10:59 am
@realpaul: “San Jose CA, lays off all civic workers and ‘rents’ employees instead”
You know, many people have commented on this blog that it should be cheaper to own an asset than rent it. Either the city’s assets — in this case its employees — are in a wage bubble and overpriced, or the city is fooling itself to think contracting out services will serve taxpayers better.
Sounds a might deflationary to me…
July 19th, 2010 at 11:04 am
A pie chart is not an appropriate way to display that data.
July 19th, 2010 at 11:18 am
@realpaul:
There’s the key. Employer-provided health insurance is severely distorting the labour market in the US. Note that health insurance also comprises a large part of pension benefits in the US.
The cost of the employees’ labour itself is rarely the real problem.
By getting rid of regular employees – particularly those over 50 or with health problems – employers (both public and private sector) offload health insurance costs onto the insurer of last resort – the federal and state taxpayer.
July 19th, 2010 at 12:10 pm
Public sector and private setor wages influence each other. If private sector wages increase, it puts pressure on the public sector wages to do likewise. That is want happened to IT workers during the dot com boom. Private demand boosted the wages of public IT employees.
If public sector wages fall, so will private sector wages. Both sectors are part of the same labour market and they influence each other.
Bottom line: public sector wage cuts mean private sector wage cuts, which means wage deflation across the board, which means less demand for goods and services unless their prices fall too. This is deflation. The price of everything falls. However, debt stays the same. If you have a big mortgage with 30 years of payments left, you should be very worried.
July 19th, 2010 at 12:38 pm
@ davers
Take a look at the data at the bottom of the Vancouver page. 52% of those “who have submitted a mortgage inquiry using CanEquity’s preapproval application” are renters, the “the marital status of applicants from Vancouver” is 42.6% single, the “average income of applicants living in Vancouver who have submitted an inquiry” is $66.5k. To me that doesn’t scream equity rich mover-uppers.
July 19th, 2010 at 1:02 pm
@VRENGD: Well said.
@realpaul: Despite your disagreements on public sector hiring, money holds its value through circulation and slowing that will result in broad deflationary pressure. If you lay off tons of employees this will propigate throughout the whole economy. Perhaps read up on the term Paradox of Thrift.
July 19th, 2010 at 1:23 pm
Could the rates be going up tomorrow? I didnt think they had the balls (though I think its the right thing to do) but it looks like some people think its gonna happen.
Then again this could just be fluff to scare people into being more careful with their borrowing habits (perish the thought!)
http://www.cbc.ca/money/story/.....ancer.html
July 19th, 2010 at 1:29 pm
@fixie guy: I would expect the average age of FTBs to be in the late 20′s – early 30s. Throw in a few home switchers in their 40s and 50s and presto, you get your average age of 38.
It would be nice to get the median instead of the average because there are probably a few 70 year olds who take on small mortgages for a brief time, and that really can screw up the average.
July 19th, 2010 at 1:39 pm
@fixie guy:
“average of 66k in Vancouver”
Is there a medium for Vancouver? Average of 66k is pretty scary considering the prices here. What’s the median income of approved mortgages? That would be interesting to see…
July 19th, 2010 at 1:59 pm
finally the much awaitted asian rich investors are arriving in Vnacouver any moment now. A ship carrying about 200 asians is headed toward our shores. Goverment officials are discussing if it is better to bring them to Vancouver or Toronto where they are desperately needed to give a boost to the frail real estate market.
July 19th, 2010 at 2:00 pm
Guys, because of the navel gazing and limited exposure to critical thinking of the local market the idea of getting rid of civil servants entirely is a radical idea here. Its because the locals have been spoon fed this union biased crapola for generations and many have accepted this unreality as fact, when it is not.
1) If a service or skill is in demand it becomes more valuable. The unions have altered this model to where we have unaffordable services at any cost. It was obvious that we would eventually hit 100% taxation and here we are. In most ministry budgets wages and benefites absorb all the revenue leaving nothing for the services thay are supposed to provide. The private sector adjusts to the reality the civic….not.
2) There is no paradox of thrift when civil servants become self employed and sell their valuable skills to the open market. If they are what they claim they should be paying more taxes than ever. Ditto on the deflation argument…what are the parasites going to do….sit home and starve? Of course not, they will find employment that the market says they are suited for and pay them accordingly. It should result in higher wages for the skilled job category and less for the unionized sluggo.
3) The cost of healthcare is what it is because the unions have become accustomed to draining the budgets. Retain staff at competative rates in the global market and costs will come down down making health care more affordable.
4) This argument is constantly being labeled as ‘realpaul ranting’ when in fact I have provided many examples of national and state administrations proceeding along this line. Unbelievably, realpaul doesn’t rule the world, but does report factual information. I think we are seeing a case where the deniers are exhibited genuine disonance where in spite of the realities smacking them in the face and waking them up, they react by crawling further up the old bunghole.
July 19th, 2010 at 2:03 pm
“One of the frustrations of anyone trying to study the housing market in Canada is the dearth of publicly available data compared to the United States”.
………………..
I reckon that is intentional to protect the incompetents and the fat cats. The less you know, the better it is for you. What you don’t know, won’t hurt you. If you believe what I promise you during the campaign, you are an idiot. What you hear is not what you get eventually. If you insist, there is always a 230-page reform bill with loopholes big enough for airplanes to go through.
July 19th, 2010 at 2:09 pm
@davers: yeild curve says yes. Forward hegable rates actually are betting on atleast one more after that too with 6mo at 1.2%
July 19th, 2010 at 2:11 pm
@what do I know: They should have built a dock in the olympic village that leads right into their sales center.
July 19th, 2010 at 2:12 pm
@what do I know:
Just in case you are interested to know. There was a news report of one of refugees allowed to stay from ships landed in QC Is years ago. And his photo was shown, he bought and owned a house in Vancouver. I wished I still had that news link.
Some parts of GV and media are actually holding their breath for the first planeloads to arrive in August.
Don’t stone the messenger. I’m just reporting “as is”.
July 19th, 2010 at 2:14 pm
“The cost of healthcare is what it is because the unions have become accustomed to draining the budgets. Retain staff at competative rates in the global market and costs will come down down making health care more affordable.”
Far and away, the biggest heathcare cost is doctor salaries. These “independent contractors” control the growth in their numbers (via their college and the BCMA) and hence supply of medical services. They have been very successful, maintaining a perpetual doctor shortage. This keeps the costs extremely high.
Meanwhile, technology has decreased the time for some procedures like cataracts surgery from 6 hours to ten minutes. Yet, the surgeons get paid the same or more per procedure. That is why many opthalmologists bill MSP over one million dollars per year.
This is the reason why health care costs are so high. Firing, nurses, janitors and orderlies will not address the problem at all.
BC should import hundreds of indian surgeons to do things like cataracts surgery and cut the fees paid for the procedure by 60%. The indian surgeons will be quite happy with their $300,000 a year. The Canadians will be pissed that they can no longer bill $1,000,000 and have to settle for $300k but if they don’t like it, they can move to the USA.
Who cares? There’s lots of capable surgeons in India who many in the west already visit as part of the medical tourism industry.
July 19th, 2010 at 2:24 pm
@Jonathon:
“Is there a medium for Vancouver? Average of 66k is pretty scary considering the prices here. What’s the median income of approved mortgages? That would be interesting to see…”
It’s all fairly biased anyway, as the stats are only from one company. Perhaps the way in which the company markets itself introduces a bias towards certain levels of income and/or ages. It would be foolish to assume that these are a reflection of across-the-board stats, but it’s an interesting snapshot nonetheless.
July 19th, 2010 at 2:45 pm
As long as the chinese can keep their real estate bubble going, you can pretty much kiss away the notion that you will see a crash > 20% in the Vancouver market, especially on the West Side. Mind you, I am talking about the Vancouver market. Not the suburbs.
Here are some news get the bears agitated.
http://news.mingpao.com/cfm/Re.....eaa1%2Etxt This guy just broke another record in Hong Kong for buying an apartment at close to CAD$4000/sq feet. It seems like the Millenium water isn’t that bad afterall.
July 19th, 2010 at 2:48 pm
http://www.mpfinance.com/htm/F.....a_eac1.htm
China real estate transactions up 11% weekly. 15% for major cities. Prices remain the same and didn’t drop one iota since the real estate mortgage regulations set in 2 months ago.
July 19th, 2010 at 2:49 pm
It’s not only about real estate in China. Liquor also got sold for 1M Yuan.
http://www.chinadaily.com.cn/c.....999430.htm
July 19th, 2010 at 2:53 pm
How about indulging yourself in a moment in the craze in the chinese art market.
http://www.chinadaily.com.cn/c.....999430.htm
There is so much liquidity in the world. You go hang on your deflation theory as long as you want.
July 19th, 2010 at 2:54 pm
Sorry. Wrong link for the chinese auction craze.
Here is the right link.
http://www.cguardian.com/engli.....ideoid=v28
July 19th, 2010 at 2:57 pm
@buff_butler:
“River Green” has a booth manned by 2 men in Aberdeen Mall Richmond, Only colored brochures are available and direction to the Sales Office next to The Oval. I can see the tourists lining up to collect their brochures and heading towards The Oval, with suitcases of cash of course.
Incidentally, Ujjal Dosanjh was seen entering Fairchild Radio @Aberdeen Mall last Saturday. Is he pumping the Richmond market too?
I’m just not in good mood today. Pick and discard as you wish.
July 19th, 2010 at 3:19 pm
@Whitebear: “As long as the chinese can keep their real estate bubble going, you can pretty much kiss away the notion that you will see a crash”
Do you think any money is being generated when these properties are bought and sold? If you think yes, then there is nothing we or anyone else on this plane of existence can do for you.
July 19th, 2010 at 3:24 pm
@Whitebear:
Then why does Bob Rennie think it’s going to take 2 years to sell the OV?
Not trying to justify the present prices in HK, which appears to be in another bubble (they had a huge bust in the late 90′s). But there’s a very good reason for condos to cost far more per square foot in HK than here. It starts with “R”.
July 19th, 2010 at 3:25 pm
I don’t disagree with you that this is a bubble. The open question market is when it will burst. The tech bubble lasted since Greenspan uttered the “Irrational exurberance” comment in 1995 till 2000 when it finally bursted.
Imagine the people that bought in 2000 and now sold the house on the West side. They have just reaped in 1M tax-free (because of own residence is tax-exempt). Fundamentals would have you sold the house already in 2003 and the bubble just carried on until now. Meanwhile, those prudent renters have been losing purchasing power while those people reaped in 1M in 10 years.
July 19th, 2010 at 3:30 pm
@Whitebear:
Imagine the people that bought in 2000 and now sold the house on the West side. They have just reaped in 1M tax-free (because of own residence is tax-exempt). Fundamentals would have you sold the house already in 2003 and the bubble just carried on until now. Meanwhile, those prudent renters have been losing purchasing power while those people reaped in 1M in 10 years.
Agreed. It’s called gambling. How often do you take your life savings to the casino and put it all on red?
Could be tomorrow or 10 years from now, do you feel lucky?
July 19th, 2010 at 3:39 pm
I agree with Jonathon… and not only that, how many people were expecting property to double or more back in 2000?? I am betting even the cockiest Realtor ever wouldn’t even have fathomed it.
If there is someone who bought 10 years ago with the expectation that they could sell now and pocket a cool Mill, I’d like to meet them. They must have the best foresight ever.
July 19th, 2010 at 3:40 pm
@Whitebear: “The open question market is when it will burst.”
The market has provided a partial answer already. See paulb.’s inventory and sales numbers. It helps to understand how much foreign investment would be required to keep prices high. In a nutshell, it’s at least an order of magnitude more than foreigners are currently investing in BC real estate.
July 19th, 2010 at 3:47 pm
BC lawyers are preparing for a falling real estate market and declining economy. Here is an exceprt from an email sent to members today from the Law Society of BC:
Property developers face future risks
Although the real estate market made an initial recovery after the 2008 recession, recent developments suggest a second decline may occur – raising the possibility that purchasers may look for ways to avoid completing future contracts. Help your developer clients by alerting them to their new obligations to file amended disclosure statements arising from the Court of Appeal’s decision in Chameleon Talent Inc. v. Sandcastle Holdings Ltd. And with the possibility of a “double dip” recession unfolding, all lawyers are encouraged to read “Hard Times: Managing risk in a troubled economy.”
July 19th, 2010 at 3:59 pm
@VRENGD: Good find on the lawyer thing, though of course they would be a bit hyperbolic when talking to clients. They make money by stirring up concern; whether or not there is rational basis for concern (which there happens to be…) is a convenient but firm second place.
July 19th, 2010 at 4:03 pm
Bad news, everyone.
Canada expected to follow U.S. in economic slowdown.
http://www.theglobeandmail.com.....ernational
I still want my quarter point interest rate hike tomorrow, damn it.
July 19th, 2010 at 4:44 pm
Condo tracker inventory is running dangerously low !
It is getting harder and harder to find a place to live.
price increases are imminent.
Alum
July 19th, 2010 at 4:54 pm
#48 Alum,
Yet lots of cheap rentals – check out Craigslist. Get ready for prices and rents to fall at the same time.
And you bulls said this could never happen! Be prepared to be amazed.
July 19th, 2010 at 5:06 pm
#41 Whitebear,
Real Estate bubbles don’t burst like stock market bubbles. First of all, only a fraction of the RE market is actually in the market for sale at anyone time. Selling is more timely and cumbersome unlike stocks which can be bought and sold quickly – plus you can sell some stock without selling all your stock in a company. Secondly, prices are done on comparables which are harder to compare as opposed to stocks which have fluctuating prices.
The current RE market in Canada is following the US pattern with near precision. There is an end surge, listings swell, sales slow, some listings are removed and then prices begin their gradual erosion. Things will pick up speed in the fall when more people are forced to sell and there are even fewer buyers. Those who are waiting for the market to return to April 2010 prices will realize that may take years or a decade. Then comes panic.
July 19th, 2010 at 5:12 pm
#46 Jesse,
Agreed but the legal profession has seen this before. When economic times are good most professional negligence lawsuits accuse the lawyer of giving advice that doesn’t make the client as much money as they could have – ie talking them out of a riskly venture or not getting them a proper share of the deal. In bad times it is the reverse where they should have talked them out of the deal. Either way people want to blame the lawyer and go after their insurance.
It is a telling note. I wonder if they are warning the Real Estate bar about mortagages going bad as well.
The 20/20 hindsight society.
July 19th, 2010 at 5:15 pm
Indirect taxes beginning to surge. Parking taxes (now 35% of the cost) rose 9% this year… 600% more than the official rate of inflation. Look for the parasites in your pocket at every turn rather than rationalize expenses of taxpayers money. Not too long ago the asswipes in Vision Vancouver were trail ballooning Greegy’s run into Provincial politics……can you freaking imagine that dickhead getting in again…..this guy is financial management disaster.
The news tonight interviewed an old broad getting turfed for not be able to pay for her leaky condo assessment. I haven’y heard enough of this issue since the ‘boom’ advertising has been in the news. The problem hasn’t gone away and in fact it is growing. I have heard it won’t even peak until 2014/15. Good luck to all the newbies. There is no programs available to help you and the province has developed deaf ear syndrome to the complaints. I just heard from an old couple who were hit with a $60,ooo bill after they moved in.
July 19th, 2010 at 5:25 pm
Yeah, city is in debt, people don’t want to give up services so they raise taxes. What are they thinking! Don’t they know that if you deficit-spend for long enough it will eventually roll-over like an odometer!
Fools!
July 19th, 2010 at 5:28 pm
New Listings 175
Price Changes 147
Sold Listings 88
July 19th, 2010 at 5:38 pm
Awesome oumbers paulb.
Not much doubt now that all the pre-approvals are gone, baby GONE!
And sales will continue to peter out.
July 19th, 2010 at 5:46 pm
The City budget is easily available online for the curious:
http://vancouver.ca/fs/budgetS...../index.htm
Police and fire total 33% of the operating budget, a bit less than nutter conspiracy theories suggest. Parks and Rec another 11%, hardly surprising around here. Most interesting is the linear, nearly 50% increase in per-capita spending over 10 years.
July 19th, 2010 at 5:49 pm
Good times!
CEOs Get Ready to Spend Again
http://www.emailthis.clickabil.....=182470833
July 19th, 2010 at 5:50 pm
Here is the July projections as of today, using Paulb’s numbers.
item sales listings sell/list
days elapsed 12 12
average 111 213
days left 9 9
projection 2326 4478 51.9%
We have had 3 straight <100 sales days. If this bad pace keeps up, we may just barely crack 2000.
Here are the REBGV numbers for the last 10 years. Note that these aren't directly comparable to Paulb's because paulb includes raw land and multi. But those are only around 5% of sales.
July totals sell new list sell/list
2001 2618 3504 75%
2002 2670 3929 68%
2003 4023 4447 90%
2004 3019 4785 63%
2005 3652 4107 89%
2006 2732 4370 63%
2007 3873 4924 79%
2008 2174 7104 31%
2009 4114 5061 81%
AVG 3208 4692 68%
July 19th, 2010 at 5:59 pm
shitstorm brewing.
July 19th, 2010 at 6:16 pm
“Canada and Australia on their own look okay, propped up by raw materials and, so far, un-popped housing bubbles.”
-Jeremy Grantham
July 19, 10
July 19th, 2010 at 6:30 pm
I live in this building in 1995/1996. In a unit same sq footage as this one. Also south facing.
http://vancouver.en.craigslist.....32635.html
The rent then was $1100/mnth. Now – asking $1275/mnth. Not much of a difference over 15 years in rent price…
July 19th, 2010 at 6:31 pm
@GB: Sorry I meant the rent then was $1150/mnth.
July 19th, 2010 at 6:32 pm
http://www.ctvbc.ctv.ca/servle.....lumbiaHome
July 19th, 2010 at 6:56 pm
Why Web host shut down 73,000 blogs a mystery?
Not if you listen to Alex Jones it isn’t
CNET LINK
http://news.cnet.com/8301-3100.....2-261.html
This is a warning to all who value free speech and the internet
You are about to lose everything you value to the evil people behind the new world order.
73,000 BLOGS !!!!!
73,000 BLOGS !!!!!
July 19th, 2010 at 6:57 pm
Looks like the PRICE REDUCTION TRAIN is picking up steam again.
July 19th, 2010 at 6:59 pm
The Patriot Act can be invoked for whatever reason the FEDS wish, and they will not (are not required to) give a reason. The Patriot Act also prevents anyone the Feds have contacted from telling anyone when they have been coerced into action/inaction by Homeland Security or whoever employs the Act against them, at risk of being imprisoned by said agency. It is my understanding that it is even against the law (Act) to inform your attorney or even a judge if the Act has been invoked against you.
July 19th, 2010 at 7:08 pm
LOLOL read this crap!
BURSTNET® STATEMENT REGARDING BLOGETRY.COM TERMINATION
July 19, 2010 – Scranton, PA – BurstNET Technologies, Inc™ (http://www.burst.net), the largest web hosting and co-location provider in the Northeast Pennsylvania (USA) region, has been the suject of recent news headlines regarding the termination of service to popular website Blogetry.com.
BurstNET® is releasing the following information, in order to set the record straight regarding the matter:
On the evening of July 9, 2010, BurstNET® received a notice of a critical nature from law enforcement officials, and was asked to provide information regarding ownership of the server hosting Blogetry.com. It was revealed that a link to terrorist material, including bomb-making instructions and an al-Qaeda “hit list”, had been posted to the site. Upon review, BurstNET® determined that the posted material, in addition to potentially inciting dangerous activities, specifically violated the BurstNET® Acceptable Use Policy. This policy strictly prohibits the posting of “terrorist propaganda, racist material, or bomb/weapon instructions”. Due to this violation and the fact that the site had a history of previous abuse, BurstNET® elected to immediately disable the system.
July 19th, 2010 at 7:12 pm
To the scum here who vote down the info I posted on the attack on 73,000 blogs…I hope you realize that this blog, the internet, and everything you value is at stake. Why do you think CNET is also up in arms?
http://news.cnet.com/8301-3100.....2-261.html
Real estate issues should take a back seat to this attack. This is 100 times more important than what’s going on in the housing market. If you can’t see this then…hey its your world is all I can say.
July 19th, 2010 at 7:14 pm
Wonder how they’ll spin in when July sales are the lowest in 10 years! I thought everyone would want to move here after the Olympics …
July 19th, 2010 at 7:15 pm
BREAKING NEWS…..PC WORLD CONDEMNS US GOVERNMENT ATTACK ON THE INTERNET
Blogetery.com Shut Down: Danger on the Internet
http://www.pcworld.com/article.....?tk=hp_blg
July 19th, 2010 at 7:16 pm
NMG – its a Vancouver housing market blog. There are plenty of places to discuss the internet elsewhere.
July 19th, 2010 at 7:31 pm
@Alum: Are you trying to be funny guy or you are just plain stupid?
July 19th, 2010 at 7:47 pm
I am putting up anti-bubble posters telling people to run for the exits around where I live starting tomorrow. I am including price/income of major cities in the US in 2006 versus the price declines they faced (from Case-Shiller) vs current price/income of Vancouver.
We’ll see how it goes
July 19th, 2010 at 8:06 pm
@ Kosta
I’ll throw out a conspiracy theory. I’ve noticed that recently, concurrent with latest market wobbles, both this forum and RET are hammered by BOTs and nutters. Both forums contain strong bearish sentiments. When it’s ‘viral marketing’ it’s clever, consider the possibility posters like ‘No More Gordocracies’ are here specifically to poison the well and paint this place crackpot. His rantings must send ‘normals’ running, and the behaviour is unlike any I’ve seen in the dozen other various forums I frequent. I wouldn’t bet on the industry considering the tactic beneath them. I suggest ‘Rocking the Vote’ and foreclosing as quickly as possible. Setting the foreclosure threshold higher wouldn’t hurt either, or VCI risks becoming:
http://img836.imageshack.us/img836/6489/fatejh.gif
My 2 bits.
July 19th, 2010 at 8:25 pm
@GB: That’s about a 0.7% (slighly less) annual increase in nominal rent. More confirmation that real rents in Vancouver have been dropping for about 25 years or so.
July 19th, 2010 at 8:35 pm
It’s back up. Watch it before Google starts charging to watch this. If they do, not NOT pay for it. It would be a copyright violation. It’s free on other sites but like I said, drop everything right now and watch The Obama Deception.
http://www.youtube.com/watch?v=eAaQNACwaLw
Sorry if some of you out there can’t grasp the significance of the internet war just declared by Google (NSA). NOTHING is more important than this! Real estate is now nothing but another distraction from what’s happening right now that directly affects YOU and everyone else out there.
July 19th, 2010 at 9:14 pm
@oneangryslav2: And that is if they get their asking rent…which I doubt. Everyone knows to bid lower than ask these days. Rents also!
I figure they will likely get the same rent I paid 15 years ago. Either way small diff. OK for the owner who bot the condo then as per cash flow, numbers worked. Not so good for the buyer now…
July 19th, 2010 at 9:24 pm
@fixie guy
“both this forum and RET are hammered by BOTs and nutters …
Setting the foreclosure threshold higher wouldn’t hurt either,”
Completely agree, matches some of my posts. I’ve asked Pope to raise the foreclosure limit too.
July 19th, 2010 at 9:39 pm
Low sales? Rich Asians at Folk Festival over the weekend so no time to buy.
July 19th, 2010 at 9:42 pm
Instead of a FORECLOSURE stamp, Pope should superimpose an animated butterfly net for people like “No More Gordocracies”.
July 19th, 2010 at 10:04 pm
Notice to Profession did go out today re: warning clients of double dip and advising wrt remedies for people trying to escape contacts in RE
July 19th, 2010 at 10:32 pm
@NMG, From the video, claiming that climate change is a fraud:
“We had a medieval warm period where all kinds of grapes and tropical fruits were growing in the northern hemisphere”
Too good.
July 20th, 2010 at 8:34 pm
@fixie guy
I’m a regular reader here and the crazies have gone from mildly entertaining, to moderately annoying.
I say get rid of them.
Maybe after 10 foreclosures, your IP gets banned. These morons really gotta go.