Beijing Price Drop

The recent news that new house prices in Beijing dropped more than 25% in one month was very dramatic. Perhaps too dramatic.

It may be just manipulated statistics. Beijing has indicated their intent to drop house prices while other chinese cities intend to ‘control’ house prices rather than ‘lower’ them.

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Trollsuck
Trollsuck
9 years ago

@vci_sucks: And the sad thing is that you feel compelled to visit this site every day and comment about how it sucks. Don't you have anything better to do if you don't like it here?

midnite toker
midnite toker
9 years ago

Well everybodys too stoned to buy a condo today.. but try ordering a pizza.

vci_sucks
vci_sucks
9 years ago

this site sucks

rosy
rosy
9 years ago

Yes housing is crap in this city, couldn't agree more! And yes when I first bought it was cheaper than rent so I guess I was smart and a bit fortunate. But not in this city. Also who the hell would pay off there house with such incredibly cheap rates. As long as I can cover when my term runs out and I'm beating the spread by actively investing (yes I know the risks). But don't doubt for a second that I haven't worked hard for it.

Good luck

Romeo Jordan
Romeo Jordan
9 years ago

PW, the whole fracking mess is gradually falling apart.

It's like pulling on a string.

You know that if I'm saying it it's on the mark. And all the doubters can suck my ass.

xoxox

Romeo Jordan

Patiently Waiting
Patiently Waiting
9 years ago

@HAM – Sham: This is the first time in a while that Vancouver has been weaker than the suburbs. Could just be noise though.

Anonymous
Anonymous
9 years ago

@rosy: …. I have always bought crappy houses ……

Well, hmnm, that would appear to limit you choices to every house in metro Vancouver.

Romeo Jordan
Romeo Jordan
9 years ago

Dave, your a shatstack, same as McLosin.

Dave, don't you know that average prices do not adjust for tear down/new builds or all that money spent at home depot for renovations. Also does not take into account the change in sales mix, lower end units dying on the vine and just the numbknutz buying at the higher end.

Things are slowing, albeit gradually and perhaps not yet definitively. But you have been given warning. Pass it on to McLosin for me please, and give him a pat on the head. He needs all the encouragement we can give him.

xoxox

Romeo Jordan – still looking out for the Great Unwashed

Anonymous
Anonymous
9 years ago

@crabman: ….Think it can’t happen in a desirable city on the water with a mild climate? It just happened last week…..

Ya, but come on; be realistic! San Diego is nothing like Vancouver: they have way, way, way more sun there. Who the hell would want to live in a place with a climate like that?

HAM - Sham
HAM - Sham
9 years ago

Dailies – List | Sold

Vancouver East & West*

New Listings – 100

Back On Market Listings – 2

Price Changes -22

Sold Listings -45

Vancouver All Areas*

New Listings – 303

Back On Market Listings – 4

Price Changes – 93

Sold Listings – 174

*Attached & Detached – Date: 04/20/2011 Time:18:48 Pacific YatterMatters.com: Courtesy REBGV. Data believed to be accurate but is not guaranteed.

WFT?
WFT?
9 years ago

Vancouver East & West*

New Listings – 100

Back On Market Listings – 2

Price Changes -22

Sold Listings -45

Vancouver All Areas*

New Listings – 303

Back On Market Listings – 4

Price Changes – 93

Sold Listings – 174

*Attached & Detached – Date: 04/20/2011 Time:18:48 Pacific YatterMatters.com: Courtesy REBGV. Data believed to be accurate but is not guaranteed.

vci_sucks
vci_sucks
9 years ago

Beijing price drop, Vancouver price up 15% YTY

fixie guy
fixie guy
9 years ago

@58 lol cats: Nice analysis LC, as cogent as any other from the real estate industry. Why aren't you out buying? The bank knows Vancouver properties will double again in less than ten years, they'll be falling over each other to shovel you free cash come hell or CMHC on such a sure thing. Trust me.

Waste no more time here young warrior, go forth and grasp the golden rings of fortune. Touching two edge-to-edge makes a golden eight. Remember that.

Stu
Stu
9 years ago

Hey crew, big Stu here. I think when the Canucks lose game seven next week it will be the black swan. The hordes of dingbats that have been buying condos and Kesler jerseys will be looking at two depreciating assets. Should have stuck with Kesler's gay underwear. For Star Trek dvd's and Vancouver houses the best time to buy as usual was yesterday.

lol cats
lol cats
9 years ago

must be 420, the bears are fired up… err, ok, pun intended. if you take a beak from toking, you may find your delusions of a massive bubble are THC induced. the only tangible bubble is the one in your bong.

Anonymous
Anonymous
9 years ago

@Dave:

That’s over 5 years ago now. A full half decade! Or 20% of the way into a mortgage!

Yeah, maybe in 1980. But, who takes out 25-year mortgages these days?

Dave
9 years ago

@Troll:

He has already admitted to having been wrong. He picked the time of the sunrise and we are now six months past due and it's still dark.

As for VHB, somebody should update the 'You are here' graph to 'You could have been here'. That's over 5 years ago now. A full half decade! Or 20% of the way into a mortgage!

real_professional
9 years ago

@Anonymouse yeah I think you are!

I wish it also
I wish it also
9 years ago

@Wish I Was Rosy Too:

Yes, that would be cool, especially if Aaron was there too!

Wish I Was Rosy Too
Wish I Was Rosy Too
9 years ago

Yeah it would be cool to be Rosy. Go to the office and blog about the republicans, pretend to run an international company, and even brag about being an extremely rich homeowner.

And best of all theorize about economic ,and google all day long.

Anonymouse
Anonymouse
9 years ago

@real_professional:

"wish I was rosy… so smart, so talented, so lucky!"

so jealous?

real_professional
9 years ago

You are right! I was in high school during the 90s too – I wish I had bought real estate instead of spending my savings on Reebok Pumps, hyper color t-shirts, and my Vanilla ice CD… by CD I mean tape.

I wish I was rosy… so smart, so talented, so lucky!

Absinthe
Absinthe
9 years ago

@rosy:

Good for you. In the 90s, I was in high school. So being in the right place @ the right time is no reason for smug self-satisfaction.

You got into the market at a good place and have done well, riding a wave of gains. And if you've invested RE profit in some diverse investments, you'll be a family who comes out rich through Vancouver RE. There's no doubt that this market has had abnormally good gains compared to many other investments, for investors who understand the market and are willing to work.

But you're no young FTB family making $63K/year looking for a starter home to live in.

pricedoutfornow
pricedoutfornow
9 years ago

@IT__Pro:

You're right. He had 20% down (which was actually a loan from a parent) because this is property #2 and the new rules about having more than 5% down on a rental property had just come in. Interesting. But I see on the statement there is a severe-looking note from the bank which says something like "Did you know that when interest rates go up, your payment stays the same but more of your payment goes towards interest and less to principal? Maybe it's time for you to increase your payments!"

Maybe I will do some calculations for him and show him exactly how much his payments will be going up with interest rates of 5, 6 and 7%. I wonder if rates will be 7% by 2015?

Anonymouse
Anonymouse
9 years ago

@patient renter:

"so when prices crash 50%"

IF prices crash 50%.