Friday free-for-all!

Well, you made it to the end of another work week. Lets do our regular weekend news round up and open topic discussion thread. Here are a few recent stories to kick things off:

Two charts for the Canadian housing bubble
Realtors launch ad campaign to buff up their image
Here’s the creepy ad in question
Teranet: rising home prices set to stall
The spirited things Vancouverites say about home prices
More US housing market dismay detail
Looking back at rear-view mirror forecasts

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

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rp1
rp1
10 years ago

@vreaa: And a good contrary indicator that American prices may be nearing the bottom. I didn't expect that either with the backlog of foreclosures, but it is looking increasingly plausible. The Zombie Banks can keep foreclosed houses off the market indefinitely, courtesy of Uncle Sam and the FASB. There is no pressure for the banks to sell, and many of the empty houses have been wrecked by squatters now anyways. It could be a long slow drag along the bottom, maybe for five years.

vreaa
10 years ago

See the latest TIME magazine cover yet?

'Rethinking Homeownership'

http://wp.me/pcq1o-1gf

A fine bookend match for the 2005 man-hugging-house cover.

Anonymous
Anonymous
10 years ago

@Anonymous: paulb was talking specifically about West Van which has been an outlyer for quite a while now.

Anyhow, don't worry, a massive wave of listings will hit the market in the next few weeks and prices will start falling.

Anonymous
Anonymous
10 years ago

@paulb.:

The small number of sales in such an expensive market make the median and average price pretty useless in a MOM context.

Richmond, Burnaby and North Vancouver are also up or holding steady. I can't recall, didn't prices fall dramatically in June? Now they've rebounded? I realize that the sample size is smaller but there is enough data here for different suburbs to suggest that prices are holding their own.

oneangryslav2
oneangryslav2
10 years ago

@chip:

This blog could do with more data points and fewer paranoid hotheads.

Coming from you, I'll take that as a compliment. In addition, I admit that I was wrong for claiming that you and realpaul were the same person. I misread one of his posts, which ultimately lead me to make an incorrect inference. For that, I apologize.

fixie guy
fixie guy
10 years ago

realpaul Says: "…Liberal media message certainly attracts the freaks, the retards and the all fucked up…"

Oh, the Freudian irony.

Best place on meth
Best place on meth
10 years ago

@realpaul: I enjoy wrapping my fish in free copies of the Nazi Post as much as the next guy, but when when it comes to Conrad Black I have to say I'm a little disappointed that he wasn't murdered in prison. Did you have a nice chat with him? Did you ask Lord Black if he held on to the soap tightly with both hands every evening? Were your references to fecal matter returned in kind by an appreciative and laughing convicted felon who ran one of the largest mainstream media empires in the history of the world? Wait, I thought you despised the mainstream media more than anything. If you happen to chat with David Frum anytime soon, please thank him for his help in starting the war in Iraq and tell him Satan says hi and will see… Read more »

ReadyToPop
ReadyToPop
10 years ago

Singapore Cuts Loan Limit to 70% for Owners of Multiple Homes

“The government’s objective is to ensure a stable and sustainable property market where prices move in line with economic fundamentals.”

Whaaaa….government intervening in the housing market to protect it's citizenry?

Only in the Orient, you say?….. PITY!

Keeping an Eye on Th
Keeping an Eye on Th
10 years ago

SuperSmartBull

“Then place will be 110% off peak price. Expect same in Vancouver bears, pretty soon bulls will be paying bears to take property.”

The scenario is not too far off the mark. So many home debtors, with huge mortgages (and there are lots) may soon be advertising:

“Nothing down, take over the large assumable mortgage, no qualifications”

Bad credit, no credit, new to country, no problem, and bankruptcy – we can work with that too.

PS. Good tenants in basement, want to stay, the pit bulls are family friendly.

realpaul
realpaul
10 years ago

Observing todays frenzied Liberal meatpuppets dance at the slighest provocation . The obsessive Liberal mania of mutual masturbation and regurgitating the Liberal media message certainly attracts the freaks, the retards and the all fucked up eh?, but in toto..its a bunch of twisted off center perverts that lost an election or two and are having a circle jerk because they can't think or speak for themselves. The truth will set you free girls.

And BTW Bwahahahahahahahahahahahahahahahahahahahahahahahahaahha!!!

Yalie
Yalie
10 years ago

Hey bears, market crashing. I was in France and prices were at least 90% off. Friend of a friend was selling thier old baguette factory owner home they buy in 2005 for $500K Euro. They list for $95.99 Euro and no offers. It has been on market for 485 days and Le Realtor told them they should try to pay someone to take their place. Then place will be 110% off peak price. Expect same in Vancouver bears, pretty soon bulls will be paying bears to take property. This is actually pretty funny, and contains more than a glimmer of truth. Let's face it, some of our bearish comments are often just as outlandish as our bull friends (myself included). I hope this one doesn't get voted down. Actually, I don't know why SSB gets voted down so much –… Read more »

Anonymous
Anonymous
10 years ago

@SuperSmartBull: What happened to your mangled english writing style?

Personally I think you're funnier when you drop the fake accent and write normally like this.

SuperSmartBull
SuperSmartBull
10 years ago

Hey bears, market crashing. I was in France and prices were at least 90% off. Friend of a friend was selling thier old baguette factory owner home they buy in 2005 for $500K Euro. They list for $95.99 Euro and no offers. It has been on market for 485 days and Le Realtor told them they should try to pay someone to take their place. Then place will be 110% off peak price. Expect same in Vancouver bears, pretty soon bulls will be paying bears to take property.

chip
chip
10 years ago

@oneangryslav2:

"Well, fecalpaul is almost certainly not Conrad Black, but he definitely uses more than a few different monikers on this site, such as “chip”."

And maybe he's been going through your garbage at night and started following you to work. Look for the old Chevy Caprice with the 'Nixon for President' bumpersticker.

This blog could do with more data points and fewer paranoid hotheads.

painted turtle
painted turtle
10 years ago

Price of detached going up, attached going down… May be it is because one cannot develop a 1000 plants grow up in an attached dwelling 😉

McLovin
McLovin
10 years ago

McLovin Update from the trenches #77

I mentioned a month ago that my buddy listed his very unique show home type house in Maple Ridge and got a subject offer but after literally hundreds of showings no back up. Yesterday he got a call from his Realturd to tell him the the subject offer is dead as the person who made it could not sell his own house.

Against my advice he is taking it off the market to "wait it out".

Anonymous
Anonymous
10 years ago

I know this is very off topic – but I hope someone here can help. I found a craiglist apt rental ad that turned out to be a scammer, so I posted a ripoff report online. Does anyone know how I can remove this report from search engine results?

manna from heaven
manna from heaven
10 years ago

Just came back from a little visit with the folks. One of their contemporaries just came out of retirement, he had only retired two months, because they cannot sell their home. He is in his late 60's, has had some recent health scares and is going back to a boss that fired him in the past.

manna from heaven
manna from heaven
10 years ago

Just came back from a little visit with the folks. One of their contemporaries just came out of retirement; he had only retired two months, because they cannot sell their home. He is in his late 60's, has had some recent health scares and is going back to a boss that fired him in the past.

oneangryslav2
oneangryslav2
10 years ago

@frank:

I am beginning to think Realpaul actually IS Conrad Black ( and probably half a dozen other monikers on this blog)

Well, fecalpaul is almost certainly not Conrad Black, but he definitely uses more than a few different monikers on this site, such as "chip".

frank
frank
10 years ago

I am beginning to think Realpaul actually IS Conrad Black ( and probably half a dozen other monikers on this blog) 'I calls 'em as you sees 'em' you do that big boy, and then green thumb your own psycho dribble. The sickest thing to come out of this Black affair is how a guy who used his papers to personally attack and smear people, is now playing the rich little victim- disgusting really. The best thing about it is Black is suing Henry Kissinger! Henry was his best fellow right wing mentor and was brought on the board by Black and eventually decided Black had his hand in the till too many times. Who can you trust these days? Realpaul -remember when you say your chants to Lord Black the giver of goodness, it works best if you have… Read more »

fixie guy
fixie guy
10 years ago

Scratch realpaul off the potentially coherent list. RP, the 'Liberuls' and 'Conservatards' can both be idiots driving the country to ruin. You think Harper's insane stimulation ON TAXPAYER DOLLARS of the housing market foretells a glorious future for the federation? Destroying the Census will guide us forward Christian soldier? We're screwed, blinkered Fox cheerleaders (gawd, in praise of Convict Black of all things) huzzahing all the way down the drain. From a quick WikiP check, after renouncing Canada as a third world socialist dump in 2001: "Regaining citizenship In September 2006, The Globe and Mail reported Black was taking steps to regain Canadian citizenship. He may have desired this to qualify for prisoner exchange and benefit from Canadian early release policies or to enable him to cross the border following a conviction." Liberul early release policies? Lol, those are a… Read more »

realpaul
realpaul
10 years ago

#122 F, I know the Liberals cringe when I out them as 'cunts'…. I calls 'em as I see's 'em….the fact that everyone refers to the Liberal Party as 'cunts' in the lingua franca of colloquial speech seems to offend no one…except the Liberal cunts…..its not a matter of how 'hip' I am…. I speak the language of and for the average Canadian with whom I speak every day. In fact I'm toning it down……most people I speak to…from 15 tp 90 are genuinely pissed at the hardships the Liberal Party and the union pigs have placed upon them. The reason why Black was never charged with any crime in Canada was for the simple reason that he committed no crime…..get off the Liberal Hysteria Wagon. As he was the most hated man in the Liberal Party universe..if he had… Read more »

Anon
Anon
10 years ago

Hey Realpaul I think you are right it is all a Liberal conspiracy against that upstanding citizen Black.

Oh wait a minute it was under Bush that he was charged. But you are probably right nevertheless, Chretien probably called Bush and asked him for a favor.

Oh wait Chretien refused to listen to Bush when he asked us to invade Iraq, making Bush very angry – and saving hundreds of Canadian soldiers lives.

Sorry buddy, better get that tin-foil hat back on and come up with another conspiracy, one that actually fits in with historial events.

Patiently Waiting
Patiently Waiting
10 years ago

I was wrong when I said West Van had 5 MOI for SFH earlier. I thought I was looking at weekly stats. West Van prices are actually skyrocketing on 22 MOI :^O Totally insane. Of course, as paulb said, the small number of sales make the stats wonky. And, as jessie said, SFH prices are harder to analyze than condos.