[…] at vancouvercondo.info February 7th, 2011 at 7:05 am- “I was at a Superbowl party yesterday in Burnaby. There was a traffic jam on their street […]

Once the bubble starts to deflate, affordability will take a back seat to fundamentals.

More importantly, the same psychology that makes people want to buy when prices are rising, makes people want to wait to buy or not buy at all when prices a falling.

@Dave: "affordability drives the market"

Only at this stage in the cycle. Once the bubble starts to deflate, affordability will take a back seat to fundamentals.

Sitting at home tonight battling, or should I say getting beaten by what I suspect is the Norwalk virus. Anyways now for the good news. Rates go up tomo.

http://www.680news.com/business/article/180401–b…

@space889:

At last, someone who make some sense. We have corruption everywhere. We have it here. Why do you think we have the new Anti Money Laundry law in Canada? At least they have the death sentence and they are not kidding.

@patriotz:

You have shit up your ass. You have no idea what you are saying. Why don't you just shut the F*&K up. Commenting on something that you have no idea about. Are you a Yankee??

@Anonymus:

US

State intervention in Fredie and Fenie, AIG, 4 biggest banks – checked

State intervention in 2 out of 3 car manufacturer – checked

Non existent Regulation of banking, – checked

Foreclosure Gate, non existent rule of law– Checked

Corrupt officials e.g Maddoff former NASDAQ chief – checked

Fed’s debasement of currency – checked

You need more?

I can't agree with you more. The US just tries to sell the idea they are superior when they are not. They have the same problems just like other countries.

The majority of buyers in Vancouver are NOT in this position.

First time buyers are what drives the market. Without the first time buyer paying inflated prices the move up buyer can't move up as much. I would venture to guess the vast majority of first time buyers are in this position. It will ripple all they up to those trade up buyers who are not maxed out.

@VHB:

"Total drop in max mortgage=9.15%.

Ok, there’s your first 9 % off prices."

Nope sorry wrong again. That is 9 percent off what a buyer using a non-conventional mortgage can afford, and only if they decided to max out.

The majority of buyers in Vancouver are NOT in this position. The affect on prices is arguable, but your analysis is amateurish and flawed yet again.

N says:"bla, bla, bla"

brought to us by propagandized subject of mainstream media.

Just for you N:
http://www.tvo.org/TVO/WebObjects/TVO.woa?videoid…

Empire of Illusion
http://www.tvo.org/TVO/WebObjects/TVO.woa?videoid…

@Anonymus:

"You need more?"

Yeah. Go and actually run a business outside of North America sometime. I've never run a business in China, but even in dirigiste France, it is a totally different experience. I've run businesses in Japan (quite free), France (much less so), Italy (even less so, and also very corrupt), the US (nothing could be easier) and Canada (not noticeably different from the US), and I can assure that you have no idea how free and transparent North America is until you try running a business somewhere else. Any comparison of the US and China is just plain silly.

CRASH JPMorgan-Chase – Buy Silver Says: "Eric Sprott today"

smart guy.

PM are going to explode.

patriotz Says: “China has massive state intervention at all levels of the private sector, a non-convertible currency, next to no transparency in banking, taxation, regulation, etc, little rule of law, etc, etc.”

US

State intervention in Fredie and Fenie, AIG, 4 biggest banks – checked

State intervention in 2 out of 3 car manufacturer – checked

Non existent Regulation of banking, – checked

Foreclosure Gate, non existent rule of law– Checked

Corrupt officials e.g Maddoff former NASDAQ chief – checked

Fed’s debasement of currency – checked

You need more?

Eric Sprott today

Ignoring real estate, most people invest their hard earned money in paper things. Stocks, bonds, annuities, insurance – it’s all paper, and it sits nicely in our bank accounts and shows up on our computer screens. Halfway across the world, investors in China and India have never trusted paper investments as a store of value – and they’re converting their hard earned paper money into gold and silver bullion. Not that this is anything new. It isn’t. But the scale and speed with which they are accumulating precious metals IS new, and it’s driving the fundamentals that we believe will lead to higher prices in 2011.
http://www.zerohedge.com/article/eric-sprott-gold…

http://www.bloomberg.com/news/2011-02-03/roubini-…
Roubini Says China, Emerging Markets Face ‘Hard Landing’ Risk

http://www.telegraph.co.uk/finance/china-business…
Hedge funds bet China is a bubble close to bursting

@crashcow: Kidding aside, I do hope the steep decline in sales do continue.

http://www.bivinteractive.com/index.php?option=co…

After three years of higher than average volatility, Canada’s housing market is forecast to stabilize over the next couple of years, but faces downward pressures as the economy improves.

@Patiently Waiting: Didn't you get the memo? It was first weekend after Chinese New Year, the Chinese were spending time with their family.