Friday Free-for-all!

It’s that time again! Time for our regular end of the week news round up and open topic economic discussion thread. Here are a few recent stories to kick off the chat:

Does ultra-pricey Vancouver have a housing bubble?
October new unit sales shaping up to be lowest ever
-$1 million house in Seattle vs $1 million in Vancouver
Economist survey: Canadian real estate overvalued.
Rennie: “We are a pre-sale city”
Premiers TV address cost BC $240,000
The long shadow over Canada’s housing market
US foreclosure mess will last for years.
In Spain your house gets foreclosed, but you still have to pay
Dubai makes Vancouver Olympic Village look like a success

So what are you seeing out there? Is it feeling like a good time to buy now that prices are down a few percentage points from their all time highs? Post your news links, thoughts and anecdotes here and have an excellent weekend!

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NO - LYMPICS
NO - LYMPICS
9 years ago

AirCare, new vehicles and False Economy: We bought our smallest vehicle ever last year, a used 2007 model and most basic ie no power windows etc. Bought it with about 55,000 km. Bough it from a major dealer with the whole service record which included about 400 dollar brake job Recently the brakes started to wobble when pressure applied. Was pissed off and called the dealer. .Got an e-mail back suggesting they need it for 2 hours to diagnose. Then I thought..this already sounds like BS…no I'll call our mechanic. Our mechanic stated that high probability the rotors are likely shot…and I said what ????….I have the records they were serviced before we bought it. Our mechanic said its been his experience that the rotors for these small vehicles are basically toast on low mileage { told me some horror… Read more »

paul
paul
9 years ago

"Housing prices do not drive quality of life." In fact I would go farther and say it's the opposite – quality of life drives house prices. I would rather rent in a place with high house prices than buy in a place with low house prices simply because the house prices in the latter are low for a reason – no-one wants to live there. I'm not arguing with you that house prices in vancouver are absurd, which is why they will eventually come down. And overall, of course I would rather live somewhere with medium house prices in line with wages, and for that in Canada we can go to Ottawa, Halifax, Montreal or even Toronto. Unfortunately (for people who pin all their hopes on owning their own home) Vancouver is always going to be a little higher than… Read more »

paul
paul
9 years ago

"Again – this city has THE WORST quality of life in North America for a young, hardworking professional couple looking to start a family." Housing prices do not drive quality of life. Job security, crime rates, leisure amenities, weather and the quality of your social and family networks are what drives quality of life. I find people who think that all they need to be happy and content is a house they can call their own to be extremely shallow. As well, what is this North America nonsense? Since when can you just lump the housing prices of two different countries into one? The UK and Germany are both in Europe but no-one compares their housing prices. Also, as one part of a young, hardworking couple I disagree with you on another point. As with anything if you are part… Read more »

Anonymous
Anonymous
9 years ago

Who gives a fuck if Chevy is better than Ford HERE?

I do, ya sock puppet.

fixie guy
fixie guy
9 years ago

@175 Anonymous and all his sockpuppets

It's a real estate board. Not a commodities board, not a stock board, not an art collector's board. Who gives a fuck if Chevy is better than Ford HERE?

Go back to RET, industry shill.

Ozzie Jurock
Ozzie Jurock
9 years ago

Gee, I counted approx. 50 foreclosures on this VCI topic

This is a bad neighbourhood….lots of gold and silver pimps

Not sure I want to invest here….maybe safer in Surrey with their hot cougar mayor.

Sour Grapes
Sour Grapes
9 years ago

http://www.60wcordova.com/financing.php

Comparable monthly rent $1,500

Monthly Savings of owning at 60 W. Cordova vs Renting $119

$1500 for a one bedroom condo in DTES?

Ahahahahahahahahah!

Junius
Junius
9 years ago

#182 Jimmy,

Using "year over year" stats allows Remax to factor in last fall and the spring which spikes the stats in favour of condos. It is misleading because it doesn't tell the truth about how these stats will read over the next year.

The Re Industry has already lost all credibility. This is just another nail in the coffin.

Jimmy
Jimmy
9 years ago

With any good stats, Remax will let the public know with a positive headline:

Condominium market in Canada heating up: Re/Max

http://www.vancouversun.com/business/Condominium+

patriotz
9 years ago

@No More Gordocracies:

Vancouver is a totally materialistic society, a very unbalanced one and I don’t see this changing and therefore it can NEVER attain world class status although it might rank with the Monacos of the world.

How times have changed. Does anyone else remember when the "Vancouver lifestyle" meant enjoying the great things that were inexpensive or free, and not trying to impress people by living beyond your means?

Go to the UBC or downtown library and find some copies of the Georgia Strait from the 60's or 70's and compare to the latest edition. Says it all.

Supraboy
Supraboy
9 years ago

Can't believe you people are voting down "No More Gordocracies".

The guy is giving you fools the truth on gold and silver. Bunch of sad sacks out there not realizing that Gold, Silver and Copper are going to tread a lot higher.

People here sometimes are out of touch with reality. As long as the US keeps on printing money, everything especially commodities will drift a lot higher.

Anonymous
Anonymous
9 years ago

Went to an open house today in Burnaby; 3br townhouse. Price just dropped 20k and realtor seemed eager to hear anything resembling an offer. Said it's dead unless you're Vancouver west side.

Auric Goldfinger and
Auric Goldfinger and
9 years ago

#

176

#

No More Gordocracies Says:

October 31st, 2010 at 10:38 pm

Ok rocket scientists out there. Last chance to speak up. If not gold and silver where should a person put their money if they have some sitting in the bank getting less than 1% per year

==========================================

Fuck off ya pumpin pimp

Go pay for advertising

Put your money where the sun don't shine, evict the gerbil first

Bob Rennie
Bob Rennie
9 years ago

Yeah…4 Q ya nutzi's

No More Gordocracies
No More Gordocracies
9 years ago

Ok rocket scientists out there. Last chance to speak up. If not gold and silver where should a person put their money if they have some sitting in the bank getting less than 1% per year.

Anonymous
Anonymous
9 years ago

The best censorship is not read it…Quit getting your inbred family to vote others down and you up

Otherwise F#ck off and change your diapers more often.

May a sleazy realturd screw you royally.

No More Gordocracies
No More Gordocracies
9 years ago

Cash Sitting on the Sideline Will Find Its Way to Gold

http://www.safehaven.com/article/18761/cash-sitti

"We are moving back to panic territory, he said. Investors are cautious and there is a lot of cash sitting on the sidelines. Let me remind you that you earn close to zero on cash and that cash will have to move somewhere."

No More Gordocracies
No More Gordocracies
9 years ago

SILVER HITS 25.00 AT 10 PM TONIGHT ON ITS WAY TO 30.00 BY NOV 15TH?

TAKE YOUR MONEY OUT OF THE BANKS AND BUY REAL MONEY….GOLD AND SILVER

HOME PRICES DECLINING EVERYWHERE.

THE TREND IS YOUR FRIEND

fixie guy
fixie guy
9 years ago

@ 170 jesse

Of course it might be their intent to paint VCI as the loon and tinfoil crowd. Wouldn't put it past the special cases I've seen here, on RET, and on Discover Vancouver.

logic
logic
9 years ago

haven't seen dave in a while

unless he is now gro-goldbug-noobish-troll

jesse
9 years ago

I'm all for getting rid of trolls with the -10 cutoff but some of the posters here (cough Dave cough) get voted down right quick. I prefer to have their comments kept around because it makes everyone else's comments look so darn good.

No More Gordocracies
No More Gordocracies
9 years ago

This weeks housing chart
http://tinyurl.com/265m3la

No More Gordocracies
No More Gordocracies
9 years ago

@Best place on meth:

Go broke retard. I'm sure you're working on it anyway.

jesse
9 years ago

@Supraboy: Bubble is bursting in Victoria and Kelowna. Good enough for me.

Supraboy
Supraboy
9 years ago

Everyday, it's all about bears screaming about housing prices being too high. So when's this so-called "bubble" going to burst? It still hasn't happened and we're about 8 months after the olympics already.