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Divergence

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Stories abound of weakening housing markets. Except Vancouver. Here are some examples, some a bit closer to home than you might think:

fishyre: periphery not selling

househuntvictoria: staleness in the spring air

worldhousingbubble: Oz not strong

huffpo: new record prices in US cities (the percentages cited are DECREASES, not increases, just to be clear.)

The Vancouver market, otoh, is hot, unfortunately the “frenzy” quickly fades to a state of ennui as we move farther away from the “core”.

It’s probably nothing…

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fricksteick

oops… here is the link

http://cbc.radio-canada.ca/speeches/20110331.shtm…

What are you one crack moron? That was s speech about the CBC! No mention of tax deductible mortgages

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Anonymous

@Bailing in BC:

A condo downtown listed as a foreclosure for $239,000? (sorry all prices from memory and may be slightly off) sold for $150,000.

WTF? Squamish has a downtown?!?

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lol cats

oops… here is the link

http://cbc.radio-canada.ca/speeches/20110331.shtm…

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lol cats

i love this place.. the mood is enchanting. whenever i need a chuckle, i come here.

i heard harper will propose a tax deductible mortagage for 2012!

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Bailing in BC

Sorry for the multi posts but I'm trying get my Avatar sorted. Looks like I've succeeded! I am interested in the inside scoop on Kamloops though.

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bailinginbc

Anyone have any information on how Kamloops is going?

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bailinginbc

To follow up I heard we have a 4 offer bidding war this week!

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Anonymous

@Wigawig: …Remember, Whistler had their big rise from 2002-2006……… That's what a Whistler realtor may tell you, at least one trying to lead you into beleiving you'll get a bargain now. The truth is, Whistler’s been dropping for 10 years, but it’s very difficult to get individuals to admit it. We often muse on this blogv that the Vancouver economy is based on RE; it may or may not be, but Whistler’s definitely is. Without condo and time share sales, there is no Whistler, and that outcome is a very real possibility. Look, the ski industry, at least the current model, doesn’t make money on skiers, they make money selling real-estate to skiers (and more likely: skier wanabees), and when there’s no Real-estate left to sell, or no one to sell too, the game is over and that’s what’s happened… Read more »

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Bailing in BC

cgh #22 WRT Squamish RE. Squamish has been very slow and we have been seeing a few foreclosures recently. A condo downtown listed as a foreclosure for $239,000? (sorry all prices from memory and may be slightly off) sold for $150,000. A nice 5ish year old townhouse sold foreclosure for $414,000. At the peak townhouses in this complex were selling for approx 100K more. Loads of houses have been sitting for months but sellers seem to be reluctant to budge. One wonders how long sellers can hold the line. Some houses are ridiculously over priced. One comes to mind that in mho is $600k or 40% over priced. There seems to be a lot of high end homes sitting on the market these have been VERY slow. Interestingly however in the last week or so the market in the high… Read more »

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Staatssicherheit

@Anonymous:

Lister is just a low paid agent provocateur. Plain Insect.

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Anonymous

Lister – 63% sell/list in March/April is weak. Give it up, man.

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Lister

Hey Douchbag Best Place on Meth,

How about them apples! Is your updater still listing a dozen or so sales every day? Maybe you should get that checked since it is always off by of 100 or 150..

Hahahha…wrong again turd

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Lister

Hey Douchebags,

Look at those bear market list sell ratios…not!

Well, I guess those March 18th rules did jack all!

Dave was right once again, and you tool are wrong for the umpteenth time…

Poor renting bears

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Anonymous

From Yatter Matters:

Vancouver East & West*

New Listings – 88

Back On Market Listings – 3

Price Changes -32

Sold Listings – 53

Vancouver All Areas*

New Listings – 247

Back On Market Listings – 8

Price Changes – 92

Sold Listings – 157

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McLovin

O’Leary is more proof that life just isn’t fair,

and that the right people never get what they deserve.

what a hack.

I love O'Leary! I've met him a few times and he's a true free market capitalist.

Most of the things he says are his schtick anyway. It keeps people talking about him.

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Anonymouse

@jesse:

"Those markets have different dynamics."

What? You mean it's different here?

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Polly Pollyanna

@Patiently Waiting:

O'Leary is more proof that life just isn't fair,

and that the right people never get what they deserve. 😉

what a hack.

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Polly Pollyanna

@Guerilla:

since learning english is so passe,

we'll have to translate our snark.

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SDBound

Hello bloggers. Has been a month or two since last posting but we are now comfortably settled in La Mesa near San Digeo. The first month rent was on the tab of the employer but now we found a newer townhouse for 1550/mth. Great place, 1250sf 3bed 2bath, close to work (Scripps Mercy Hospital). We can stay here for a while and when the kids are older and we feel this is long term for us we can buy a place then. They had a blast at Seaworld last weekend and we found a great restaurant called Sweet Tomatoes. Ya some of the parts of San Diego proper seem unsavoury and yes someone honked and cut me off on the freeway. Otherwise nothing else negative to report. Her folks are coming to visit for a couple of weeks so I… Read more »

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Guerilla

Nice – thanks for the translation..

This is a crude translation but I get your points…

"You know, in a large subduction zone earthquakes, the soil will be liquefied in Richmond? Ask your real estate agent today"

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crabman

@Dave: If you want to see some funny, we should dig up some of your posts over the last few years. Some good material in there.

I would love for you to point out some examples, but I don't think you'll find them.

Actually, I just googled "vancouvercondo.info" +crabman, and these were the first few posts I found:

David Wolf quotes from VREA.

Comment 63: OK, so here’s some numbers for Dave to ignore.

Comment 44: Buying cheaper than renting in 2001.

All three of these posts contained facts with supporting links. You should try it sometime!

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Restaurant Unemploye

@Guerilla:

你知道，在一个大俯冲带的地震活动，里士满的土壤将液化？问你的房地产经纪人今天！

i believe this will be more effective.

if you're going to do anything, give it your best!

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Anonymous

@cheister: WTF are you talking about? I'm anonymous. Grow up.

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Guerilla

I will be conducting a guerilla real estate campaign in Richmond this weekend.

I will be putting signs up at major intersections at night.

The signs will say 'Richmond will liquify in the event of an earthquake."

My goal is get the word "liquefaction" to go viral in the Richmond community.

This will be the easiest way to test whether overseas buyers or locals are pushing prices up.

Lets see if that stops the overseas buying!

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jesse

@Anonymouse: "Using those places as reference…

… you will get the wrong answer. Those markets have different dynamics. Each market is different but we know larger CMAs with diverse economies will generally follow the "rule of 6".

Remember there is a several months' long lag from high MOI to price drops, and many regions only report averages/medians which aren't same-property transactions that investors care about. We also know the best estimate of the relationship between price changes and MOI is not linear: as MOI transforms from "silly" to "ludicrous", prices only decline a bit faster. On the other side, an MOI of 2 is massively more bullish than an MOI of 3.

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