Stay Classy Vancouver

20110615-102342.jpg
As the smoke from burning cars rises above the downtown vancouver skyline it’s time to mark the peak of the vancouver housing bubble. Hype and excitement can only get you so far, eventually the bill has to be paid.

Downtown will get cleaned up pretty quickly, broken glass will get replaced, the fires will be put out. Our reputation as the worlds biggest sore losers may last a little longer, but that too will fade.

The ride down for house prices? Thats going to take longer and hurt a lot more people in the long run, but eventually the bill has to be paid.

152 Comments
newest
oldest most voted
Inline Feedbacks
View all comments
fixie guy
fixie guy
9 years ago

Re: 135 Jim. Anyone inclined to believe this typical, whining 'it was Surrey/DTES' bullshit is invited to spend ten minutes on the Live Leak video site and look into the real faces of the rioters. Grow a pair Vancouver, it really was you.

Ravishing Rick
Ravishing Rick
9 years ago

As for vancouver and the riots, the vpd played like the canucks and Jim Chu is definitely the Luongo of the public sector: doesn't earn his salary, chokes under pressure, and we'd trade him if we could find someone that actually wanted to take him.

Ravishing Rick
Ravishing Rick
9 years ago

@Li kai you bastard Cut the music! Li kai left me for dead in the vancouver riots! I was in the process of doing a little introduction of my fist to the heads of some angry canuck fans. They started it! first two green men, then some fat face painted guys, and about three asian dudes who knew Karate, and finally Trevor Linden himself. There i was, one against eight, they didn't have a chance! Then all of a sudden i felt a Louis Vuitton bag filled with bricks (a familiar feeling, i assure you) hit the back of my head. Im sure it was Linden, that bitch fights dirty. When i came To, I was pinned under a flaming chevy sprint and Li Kai, Cam Good, and Bob Rennie were making a helicopter escape, as Li kai hung out… Read more »

painted turtle
painted turtle
9 years ago

From Mumbai to Melbourne, Asia’s property boom is stalling as the world’s highest interest rates and government efforts to curb prices take hold.

http://www.bloomberg.com/news/2011-06-16/mumbai-t

Anonymous
Anonymous
9 years ago

What's with all the racism on this blog lately … grow up guys … you're just as bad as those jerks that was rioting

bubba
bubba
9 years ago

@patriotz:

I stand by it….

Watch civil liberties be further impacted.

It was under Gregors watch they allowed this volatile situation to even occur.

Bet his bike lane slowed traffic (emergency vehicles etc.)

Lefties solution is spend more money…watch taxes shoot up or other programs cut.

Cops are useless gravy suckers..no acountability..

Drachen
Drachen
9 years ago

@YLTNboomerang:

"Why didn’t the VPD pull out their fancy LRAD for crowd control?"

Umm, it says right in the article they didn't buy it for crowd control. It's a communication device. Could that be why they didn't use it for crowd control?

Patiently Waiting
Patiently Waiting
9 years ago

@Devore: Just being fickle. Moving to a perceived slightly better area; same housing type and a similar (but maybe slightly higher) price. Homeowners move around a lot and all those expensive fees and taxes don't seem to stop them (just rollem into the mortgage). Cha-ching for the realwhores.

YLTNboomerang
9 years ago

Why didn't the VPD pull out their fancy LRAD for crowd control?

http://www.cbc.ca/news/canada/british-columbia/st

Why buy this stuff if you're not going to use it?

Why didn't we see the ARV out either?

http://www.ctvbc.ctv.ca/servlet/an/local/CTVNews/

Phil
Phil
9 years ago

Dear Frank, please see comment 119.

Devore
Devore
9 years ago

@Patiently Waiting: Why would there be significant number of people moving laterally?

Frank
Frank
9 years ago

@Phil:

Sorry to burst your little paranoid bubble

Take a look at the pictures and you will see every race well represented in the mayhem and the fighting is random melee. White and brown guys beating up a white guy and vice versa

Here is a few dozen, there are a lot more like it:

http://news.nationalpost.com/2011/06/16/photos-ri

jesse
9 years ago

@jesse: Oh and 4/5ths of buyers take on mortgages, and 4/5ths of those take conventional mortgages <75% LTV. Unsure the amortization lengths of the mortgages but from what I've been hearing from my mortgage broker friend, most opt for as long an am as possible. She confirmed to me these mortgage data roughly line up with her experiences.

This all assumes the survey respondents evenly represent the buyer distribution, so there is definitely some margin of error. But thanks again to REBGV and Larry Yatkowsky for these interesting data!

Patiently Waiting
Patiently Waiting
9 years ago

@jesse: A few weeks ago, I was speculating (lol) that most transactions were existing owners and that some people were even moving laterally. I know I've seen it.

May stats show a sudden steep drop in FTBs 😮 Could that be the mortgage changes working their magic?

jesse
9 years ago

Yattermatters: Who is buying real estate?

Not who you might think. Are rich foreigners simply the zombie that just won't go down? What got me: 1/3 of buyers are "lateral", buying an equivalent type property, not move-up. Another 1/3 are FTBs. If FTBs hold back… that's it.

jesse
9 years ago

Yattermatters: Who is buying real estate?

Not who you might think. Are rich foreigners simply the zombie that just won't go down? What got me: 1/3 of buyers are "lateral", buying an equivalent type property, not move-up. Another 1/3 are FTBs. If FTBs hold back… that's it.

Frank
Frank
9 years ago

Mayor Robertson called yesterday's events a disgrace.

They certainly weren't pretty or peaceful.

However can we call it a disgrace? The HAM and Russians were only delayed a few hours before the Coach store was up and running again selling $3000 hand-bags.

This is what I would call a disgrace OTOH:

http://www.cbc.ca/news/canada/british-columbia/st

Jim
Jim
9 years ago

The real problem is not the crack heads and homeless people in east hastings. It's the people that just stood there and didn't help those that tried to stop the riots.
Do 50 year old homeless women who cross paths with the cops steal from LV or Chanel stores? http://www.youtube.com/watch?v=MVeLXWbA4Wc
No they don't. The culprit is the naive middle aged healthy person with a bandanna who steals a hand bag to sell it on ebay. This city has bigger problems than real estate.
They have to deal with social values first. This time they arrest 100 people. Next time they arrest 500 with 5 fatalities

Patiently Waiting
Patiently Waiting
9 years ago

@McLovin: I think the more meaningful impact is on "real" recent immigrants. The one's I know are shocked by this, unlike more jaded long-term Vancouverites like myself. From what I hear, Vancouver is already losing favour due to the high real estate costs (and general social decline) and stats show we are already losing immigration share IIRC.

Stu
Stu
9 years ago

Hey crew, Stu here. Look gang, it's not the first time the Canucks have disappointed me, won't be the last. It was men playing with boys, except for Higgins the Canucks had trouble sporting a beard. Those retards downtown better hope they have a condo or two for forced savings, we're not talking the best and brightest here. Hope you were strapped in to your seat for a front row seat to the decline of western civilization crew.

paulb.
paulb.
9 years ago

New Listings 220

Price Changes 81

Sold Listings 126

Cam Good up in the H
Cam Good up in the H
9 years ago

Hi folks..

Thanks for coming from Mainland China with your HAM $$$$

Hope you enjoy the ride above Vancouver…tonite Vancouver is hosting Game 7 of the Stanley Cup.

Oh..those huge crowds in West End?

THOSE ARE CONDO LINE UPS…this is the best place on earth…. everyone wants to live here.

The police?

…….just to show you how safe this town is !

Trivia:The Police Chief is Asian

The Fires?

…..those are block parties..everyone is so friendly…having a block BBQ.

Smashing windows?

….Er uhh umm.."Good Luck" custom for white trash..stores reward them with free knock -off merchandise

OK, can I give you some offer sheets before we land ?

Survey Says
Survey Says
9 years ago

Here is the link to the survey:

http://www.yattermatters.com/2011/06/who-is-buyin

Survey Says
Survey Says
9 years ago

Larry posted the results of a monthly survey that the real estate board asks its members to do. It collects a lot of useful information including the percent of foreign investors.

According to the survey foriegn investors were 2.1-3.5% of buyers. Over 50% of buyers already lived in the same community.

Why are realtors giving the impression in the MSM that 80% of buyers are foriegn investors who by 10 houses earch?

patriotz
9 years ago