Friday free-for-all!

it’s the end of the week and that means its time for our regular weekend news round-up and open topic discussion thread. Here are a few recent links to kick things off:

Bubble talk reignites debate on house prices
Collapsed US housing bubble doesn’t destroy demand
Vancouver housing market set to underperform?
-BC prices set to rise?
Pizza delivery guy with real estate advice
The HST referendum numbers game

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent long weekend!

Sort by:   newest | oldest | most voted
Ravishing Rick
Member
Ravishing Rick
Cut the music!, Now listen up you real estate loving, Li Kai Shing worshiping sweat hogs…. The orher out of wack real estate market, Australia is in decline mode… All it took was rate hikes and a giant flood. I bet their real estate bulls didn't see that coming…. http://www.bloomberg.com/news/2011-06-30/australi… Fitch conducted a stress test of Australian banks last year in response to overseas investors’ concerns about the sustainability of home prices. Moody’s Investors Service cut the nation’s four-largest banks’ credit ratings by one level in May, saying their dependence on wholesale debt markets, rather than deposits, made them vulnerable to confidence swings. Doom & Gloom? Marc Faber, publisher of the Gloom, Boom & Doom report, last month urged investors to short-sell Australia & New Zealand Banking Group Ltd. (ANZ) shares, citing excessive household leverage and an overvalued property market.… Read more »
Ravishing Rick
Member
Ravishing Rick

@ Li kai shing.

You bastard, Ive been in a full body cast since the riots. I was forced to survive off of boost nutritional drinks that my pit bull, "teethz" would fetch me. If it wasn't for him and a three foot drinking straw id be dead!

I finally cut myself free this morning and checked my voice mail messages. Your old lady jammed my inbox, which is ironic because i'm usually the one jamming her inbox. Every message was the same, All she would say is, "Lavishing Lick I love you long time" and then something about new west pre sales.

Hit the recovery music!

Li Kai Shing
Guest
Li Kai Shing

Bang the Gong:

Lavishing Lick.

Poll is very dirty…get back to work.

Drunken revellers peeing in pool.

I say stop peeing in pool…they say everyone pee in pool.

I say but not off high diving board.

Lifeguard Pamela Anderson getting upset….water turning yellow..can't locate guest.

I catch you again on Craiglsist…
http://vancouver.en.craigslist.ca/van/m4w/2471845

I guess that why they call you Lick.

I give you advise…..quit boring women with sonnets…..poems…romance like you did in ad……modern women want it to the point…no BS…no beating around bush.

AG Sage
Member

Yatter Matters says averages on all property types is down in June.

http://www.yattermatters.com/2011/07/vancouver-re

Li Kai Shing
Guest
Li Kai Shing
Happy Canuckduh Q. What do you call a Vancouver Canuck with a Stanley Cup ring? A. A thief. Q. How do you keep the Vancouver Canucks out of your yard? A. Put up a goal net. Q. How many Vancouver Canucks does it take to win a Stanley Cup? A. Nobody knows and we may never find out. Q. What do the Vancouver Canucks and possums have in common? A. Both play dead at home and are killed on the road. Q: Why are the Canucks like a training bra? A: Minimal support and no cups. Q: Why won't they give Kelowna a professional Hockey team? A: Because then Vancouver will want one too. Q: What's the difference between a fat chick and the Canucks? A: Even a fat chick scores every once in a while! Q: What do the… Read more »
Patiently Waiting
Member
Patiently Waiting

Things keep getting worse in the USA. Perhaps you should judge the sanity of an investment by how physically close your realwhore gets.

"Tony Alvarez recalls his doubts as he contemplated the wrecked, two-bedroom foreclosed house up for sale 30 years ago with his real estate agent’s reassuring hand on his shoulder.

It was Mr. Alvarez’s first venture into a real estate investing career and he didn’t know the difference between a good investment and a bad one."

http://www.theglobeandmail.com/report-on-business

registered
Member
registered

7 Patiently Waiting: Closer, not quite there yet. Shiller's quarterly updated graph of his HPI index:

http://img191.imageshack.us/img191/7774/cshistori

That graph really does go back to 1890. The plus side of the market attracting gamblers who can't read graphs is profits will, statistically speaking, come from operating as traditional landlords. The Home Price Riches lottery is over, a few years of toilet repairs and tenant evictions might dissuade the remaining Buffett wannabes.

trackback

[…] and is filed under Uncategorized. You can follow any responses to this entry through the –>RSS 2.0 comments feed. leave a response, or trackback from your own site. […]

Ravishing Rick
Member
Ravishing Rick

@ Li Kai Shing,

Yes the anger vs real estate needs to be set aside so we remember that Canada isn’t a bad place to live by any comparison!

What does suck however:

1) real estate

2) government public sector salary and benefits waste

3) park-n-ride immigration

4) bloc quebecois

5) Celine Dion

6) the canucks

Canada day BBQ at my rented Whalley Rancher!! We can have a BBQ on the roof of the house and at midnight I pull out my 12 gauge and salute this fine country and wake the neighbours…. who am I kidding my neighbours are hookers and mostly drug dealers!

Hit The Canada Day Music!!!

McLovin
Guest
McLovin

Interesting all this bubble talk that is hitting the mainstream press. I wonder if the general public thinks we are in a bubble or is it just a few of us. My experience says that the average person has no idea we are in a bubble and they look at me like I am crazy when I bring it up. Are any of you seeing a change in the thought process?

Li Kai Shing
Guest
Li Kai Shing

Lavishing Lick.

Well at least you not live in shithole West Van.

Today July 1st…2nd month now rent is late.

Broody Residential Tenancy Branch say I have to give them another month….then evict.

You smart guy….Whalley be the next East Van….you heard it here first.

Canada?

Simply made up of people to lazy and stupid to be Americans.

Watching Canada Day with royal twits makes me want to toss my Mu Shu pork and sauteed duck entrails.

Royal fans = losers = West Van tenants

patriotz
Member

@McLovin:

I wonder if the general public thinks we are in a bubble or is it just a few of us.

The general public can't think we are in a bubble because if they did, they wouldn't buy and without buyers there can't be a bubble.

Many (most?) Americans still don't think there was a bubble for that matter. They see the fall in prices as the problem, not the solution.

Pizza Guy
Guest
Pizza Guy

Listen…

When I deliver pizza..the toppings are codes as to how the invest.

Pepperoni means buy on West Side.

Anchovies means sell.

Vegetarian means you are a retard so get in the condo line-up at Spuzzum.

House Special mean East Van has peaked.

Shrimp means stay in the basement suite.

patrick
Guest
patrick
Just came back from a month in asia after having sold some of my silver for $47/ounce after purchasing for $5. Its nothing short of criminal how we are getting royally fucked over in Canada and in particular Vancouver on everything from cell phone charges to property values. I was born and raised in Van and loved it here right up until the mid 90's but now find many other countries and cities far more vibrant, interesting and much cheaper. Please don't give me any bs about third world crap because in the end I only have to say downtown eastside and its all a wash. Let's face it, property is 60% overpriced, weather is brutal, women here are nasty, city hall is the greediest in the world, nothing is open after 6pm, traffic is fucked, Canucks blow, last four… Read more »
BDK TROLL
Guest
BDK TROLL

THERE IS NO BUBBLE IN CANADA AND VANCOUVER:Prices are in line with jobs,economy,and scarcity of land in Vancouver.Some investors were waiting for type of solution for Greece,Some were thinking whether to invest in house or condo?.As prices in housing units(SFH) are higher and sustainable.So it makes CONDO prices legitimate with room to fly at the rate of 6% to 15% per annum.As we had seen flood of new construction through 2005,Current MLS listings is lower than expectation.As inventory rise through June till September,It will collapse on timely fashion from September to December every year.

gordholio
Member
10 McLovin: As I babbled in my long-winded post yesterday, yes, I really believe I'm seeing and feeling a perceptual change in "normal" folk who don't hang out at doomer blogs. And I think it's due in no small part to just what you referenced: A shift in what's being said in the mainstream media. Now, IMO, the bogus, play-with-statistics ReMax press releases are often being countered with headlines, op-eds, and real news that says just the opposite. "Bubble" and "correction" are no longer 4-letter words, and headlines aren't "softened" nearly as much as they once were. Plus, I'm willing to wager that the vast majority of potential buyers simply have no more money. Like Patrick said in Post #14, consumers here have and are being "fucked over" on just about everything. And credit only lasts so long. I dunno… Read more »
patriotz
Member

@gordholio:

Plus, I’m willing to wager that the vast majority of potential buyers simply have no more money.

THAT is what eventually brings all RE bubbles to an end. People don't buy simply because they can't, not because they know better.

Jack
Guest
Jack

gordholio Says: "And credit only lasts so long."

I know a few people who appear to have it all, ie. nice house, new cars, fancy clothing and jewellery. However, they have made comments that they can't afford to lose their jobs (that they don't necessariy like) and they're only a few missed paycheques away for financial difficulties.

Wonder how many people out there are stretched to the limit financially?

Li Kai Shing
Guest
Li Kai Shing
Not sure if anyone has seen this Metro Vancouver Land Cartel http://landtricks.tripod.com/ QUOTE: I have added 3 of my own specific recent examples for the City of Vancouver as this is where my development experience mainly is from. 1. The South East False Creek Village plan (where the Olympic athletes village is) was set up so that the densities were variable with the most densities given to the parcels that developed first. This trick was done by the UDI developers so there was incentive for property owners to sell quickly as holding out for later would actually get them less density and therefore less value. 2. Sam Sullivan and Larry Beasley were just pawns of the UDI developers. They were very cozy with the big developers. Beasley was rewarded with a hi-rise tower in his honour after. 3. No planning… Read more »
Patiently Waiting
Member
Patiently Waiting
I've had my ear to the ground, and I'm sure we'll elect an NDP government in BC this Fall. Dix is a political street fighter. He'll have all his guns loaded, aimed, and on target. In many ways, his political style is the political opposite of the hapless Carole James. His lack of charisma doesn't matter, just ask Stephen Harper. He is even healing the political divisions over the James ouster and is quietly organizing the troops at the local level. Crusty Clarke is running a clown show. Many Liberal still seem to hate her. Her politics is all over the map. Dix will not let her distance herself from nasty stuff like the $6 million for Basi-Virk and will eat her alive in a debate. I usually hate watching debates, but this will not be one to miss. Having… Read more »
Patiently Waiting
Member
Patiently Waiting
Homebuyers may now have stronger precedents for suing realwhores over sellers' disclosures. Even latent defects can lead to a successful lawsuit and there is now apparently stronger requirements for realwhores to verify a seller's claims: A Sudbury judge recently found in favour of Zoriana Krawchuk, awarding her $110,000 because the agent should have known that there were foundation issues at the house she sold to Ms. Krawchuk. Ms. Krawchuk didn’t have the house inspected prior to moving in, but that didn’t move the judge. “The [sellers] knew that the foundation of the house was seriously compromised and that there were ongoing plumbing problems,” the judge wrote in a summary of the case. “They made incomplete disclosures. [The agent] took no steps to verify the accuracy of the information supplied by the seller or to otherwise protect Ms. Krawchuk from the… Read more »
Patiently Waiting
Member
Patiently Waiting

Further details on the Krawchuk victory:

http://www.legaltree.ca/node/1591

bubba
Guest
bubba

@Patiently Waiting:

NDP?

Bwahahahahhhahahahhaahooo hoo hooo (fart)

NDP is a de-facto default Gov't.

Campbell flashed his Bilderberg tattoo…

NDP is a useless amalgam of ideological twits whose sole focus/agenda is to fill the void when right- of -center has had their nose in the trough tooo looooooonnnng.

NDP is "Dumbkopf and Dumbkopf-er"….a faux party whose lifeblood is catering to special interest groups and hopefully sticking like shite- to -a -chronological blanket to get gold plated pension.

" Blah -blah -blah" party !!!!!

If and when I become Premier..I'd make NDP illegal…false advertising, and no value for tax dollars….etc etc.

pricedoutfornow
Guest
pricedoutfornow
@gordholio: "And credit only lasts so long." I am seeing this too. Clients who have secretly been living on credit for years are now coming forward with sordid confessions of using lines of credit to pay mortgages (and in some cases, credit cards). They ask us "What can we do?" And at this point, there really isn't much to do but go bankrupt. Sure, they may putter on for a few more months years, but the fact is, the line of credit is all but dried up and this is the end. In another note, I see that a house in my area (East Vancouver) just sold. Asking price was $939k. It was built in 1947 and has 3 beds, 2 baths. I wonder if it will be a tear down, and turn into another monster home with 2 suites.… Read more »
Patiently Waiting
Member
Patiently Waiting

@bubba: Yes, and connected Ndippers will be at that trough just as quickly…while the average Ndipper spends the next four years denying how they voted. Most of what you said can be applied to any political party, though.

wpDiscuz