The bank said with household debt so high, it expects Canadians will spend less on consumer goods and on homes, meaning the housing market is in for a protracted cooling-off period.
Full article over at Yahoo
92 Comments
@if this is wrong, i dont ever want to be right:
"AND even though we can find no recorded instance of a person living in a neighbourhood in Southern California or Vancouver where their neighbours all paid cash for their new cars, nor has anyone, including you, heard of such a thing,"
I never once claimed that was the case. If you want to use statistics to back up your case, at least try and apply them correctly. Frankly it's not my fault that you just want to pull numbers out of your ass to try and fit the picture that's in your head.
@Renting:
Vancouver votes to the left of center at most levels. The only reason the NPA got in last time was Vision and Cope split the left vote.
That is simply not true. Vision and Cope ran a joint slate in 2005, five candidates each.
http://en.wikipedia.org/wiki/Vancouver_municipal_…
The historical fact is that the NPA has dominated Vancouver civic politics since the 1930's and has only been out of power when they've botched up and/or an attractive mayoral candidate has led their opposition – Art Phillips in the 70's, Mike Harcourt in the 80's, and Larry Campbell and Gregor Robertson more recently. That's only 18 years out of the last 75 or so.
@space889: Exactly, not like those bums who build a bike lane in a week.
@if this is wrong, i dont ever want to be right: Ouch. That should be the last we hear of that Anonymous character.
@anonymous "The poster doesn’t even life in Canada. Try and get your facts right before puffing your chest up and hurling ill-thought insults." Yes, I caught that, and based on the zip code in his handle, I could tell he lives near Oceanside/San Diego, my previous place of residence, which is why I specifically mentioned North America in my post. I now reside in Vancouver. San Diego was formerly known in real estate agent parlance as "the best place on earth" which has been clearly overtaken by Vancouver, due in no small part to geniuses, I mean intro to statistics class attenders such as yourself. I wrote: "The false assumption would be that the majority of people in a given city in North America pay ALL CASH for a house or car." I am also going to assume that you… Read more »
@Anonymous: You should be like Buffet, and buy a bunch of Goldman Sachs shares.
Some words of advice from Buffet:
My first question, as I sit there on the couch in his office, is: "What about gold? Is this a classic bubble or what?"
"Look," he says, with his usual confident laugh. "You could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what that's worth at current gold prices, you could buy all — not some — all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils, plus have $1 trillion of walking-around money. Or you could have a big cube of metal. Which would you take? Which is going to produce more value?"
@Anonymous: I think what he's saying is that without more information, you're better off going with the average of the whole sample (X_1 + … + X_n)/n than to ASSUME that MAYBE he lives in an area where the average of a subet (Y_1 + … + Y_m)/m better describes his neighborhood. I agree with this actually. I agree with the possibility but unless there is more info why not stick to averages of the whole sample?
Vancouver East & West*
New Listings – 65
Back On Market Listings – 1
Price Changes – 34
Sold Listings – 58/p>
Vancouver All Areas*
New Listings – 206
Back On Market Listings – 5
Price Changes – 106
Sold Listings – 162
*Attached & Detached – Date: 10/19/2010 Time:17:37 Pacific YatterMatters.com:Courtesy REBGV. Data believed to be accurate but is not guaranteed.
Luongo is like RE
Overpriced and sucks
I recommend Scullboy's salty balls. If you are lucky he might give you the tip. If you dont get your money back at least you get some bearback.
what do you have against civil servants rp ?
I know a gal works long hours as a lawyer. makes way less than she could privately yet likes the work, feels she is making a difference, and doesn't have to work each and every weekend.
I think she's doing the country a good service.
(admittedly there is way too many managers, red tape and useless assistants in gov – is that who you are railing against? or do you just hate them all?)
80 Master-Bear-Tor Says:
October 19th, 2010 at 6:58 pm
@fixie guy:
I recommend Scullboy’s salty meatballs
=========================
Oh yummy -kins;
Count me in (and out )
I recommend Scullboy's salty meatballs
And Watt a tip it is. Once you go black (bear), you never go back (there).
Master-Bear-Tor Says: It’s too high end.
Lol! "Try the veal and don't forget to tip your server."
I don't want that guy living next to me.
If Ian can get us a three for one deal, we are in.
Dear Ian Watt:
I have a client for you;
His name is Master Bear Tor, which is Asian for Masturbator
Yes, if he can get me 40% off at OV.
I would hardly call CoV a union town given the success rate of union-backed politicians at the municipal, provincial, or federal level. Burnaby or New West, yes. Yes Burnaby and New West favor unions more but Vancouver is still a union town IMO. Vancouver votes to the left of center at most levels. The only reason the NPA got in last time was Vision and Cope split the left vote. The poor success rate of union backed politicians is based on their anti business policies. Business' provide jobs not unions and people figure that out once they lose their jobs after voting in the union backed politician. Based on the recent low polling for the Provincial Liberals, it looks like the NDP will get another crack at things. Then people will realize having a job and paying the HST is… Read more »
Good news,Van RE will be up at least 10% annually year after year;Van bears will swallow another humiliation yr after yr.
Re OV:
So Ian Twitt is saying they are 20 % overpriced,but to sell them they should get a 40 % haircut ?
Would you want this guy drawing up your contract with his poor editing and shitty grammar ?
Ian is dead on correct. The public already knows about the development. The price and product are out of alignment with demand. It's too high end. More marketing and free Canucks tickets won't sell units. It's all about the price and the sooner the City understands this, the quicker they will sell.
The Dutch don't have mountains to deal with.