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The Best Blog EVAR.

July 5, 2011 wreckonomics

Paulb, that friendly local realtor who provides daily sales stats on this blog points out that it’s that time of year again: the last couple of days of voting in the Georgia Straight Best of Vancouver Contest.

This blog has been voted as the readers choice for best local blog before, and Paul Boenisch took home the readers choice as best local realtor that year. Paul suggests we repeat that this year, so lets see if we can.

You can vote here, and we’re humbly suggesting you vote for http://VancouverCondo.Info as the ‘Best Local Blogger’ and Paul Boenisch as the ‘Best Local Realtor’.

It’s a way to thank Paul for all the market data he’s provided here, a way to draw new voices to argue with and a way of saying thanks to all the good people that make this site go. You’ll have to fill in an answer to at least 25 of the questions, so it’s your chance to speak out about other opinions you have on Vancouver as well.

Feel free to make your case for any other votes in the comments below.. who is the Vancouverite closest to hell and whats the best example of local city planning?

Thanks!

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Some of the big banks raise mortgage rates:

http://www.theglobeandmail.com/globe-investor/per…

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Done and done.

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Best place on meth

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Vancouverite closest to hell: you know what to do.

Relax, have a glass of wine and cast your vote.

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Karl Marx Carney

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Oh.. I know a Good choice for Vancouverite closest to hell, if I Cam remember the name I'll post it. 😀

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China’s state auditor reported last week that local governments had chalked up 10.7 trillion yuan of debt, about half of it amassed during a stimulus spending binge as Beijing sought to cushion the blow of a global recession… Many investors have long eyed China’s mountain of local government debt as a major risk. The worry is that slower growth in the world’s second-biggest economy could set off a wave of loan defaults and hobble its banking system. About half of the debt dates back to the 2008 financial crisis when Beijing unveiled a 4 trillion yuan fiscal stimulus package that compelled local authorities to spend their way back to economic health. But the legacy of the massive spending is now catching up with China as maturity dates for the loans, many of which are due in 2013, draw closer. http://www.theglobeandmail.com/report-on-business…… Read more »

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Interesting article if you like to read about greed, borrowing, slimy banks, and broke-ass Canadians:

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

This quote in particular may be quite telling:

“What’s happening is no one’s borrowing any more, because everyone’s loaded up with debt,” said Peter Routledge, an analyst with National Bank Financial. “So the banks are competing more – not only for deposits, but also loans.”

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asalvari1

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done and done..

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data junkie

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@Karl Marx Carney: Personally I voted for Rennie. That sign is fucking infuriating.

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Tired of Being Wrong

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Hahaha

Bear blog dead…

No one left to listen to your wrong for ten years rants..

Even the bears have left and bought..

All that is left is a couple of student bears, who have no money to invest in RE anyway, some aging bachelors with no family or wife pressures, and old grumpy men who believe they did the right getting rid of the family home hoping to life off the proceeds…

This blog is officially toast…

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Spanky

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@Tired of Being Wrong Eh?:

It's a beautiful sunny day, only us trolls sitting in front of our computers.

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Anonymouse

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@Tired of Being Wrong Eh?:

"This blog is officially toast…"

They're not gone for good, they're just setting up for their third 16K inventory party of the year.

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Rme

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@Tired of Being Wrong Eh?: "This blog is officially toast…"

Don't be so grouchy, there are resources available out there for your debt problem.

Just be careful, there are also a lot of debt consolidation scams out there and from your post you don't seem to bright.

Maybe get someone to help you read the fine print.

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Troll

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"Just be careful, there are also a lot of debt consolidation scams out there and from your post you don’t seem to bright."

Haha – pot calling the kettle black…

It is "you don't seem TOO bright"… moron

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Troll

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They’re not gone for good, they’re just setting up for their third 16K inventory party of the year.

Lol – good point…

It is like an annual "we are so close, the crash is around the corner, oh crap we are wrong again" party…

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Detached benchmark over $900K.

They claim inventory of 15K, paulb. says 16K. Misprint?

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Rme

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@jesse: Correct me if I'm wrong, but doesn't Pauls numbers include all property for sale and the REBGV is only residential?

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Li Kai Shing

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Surrey have "light in the loafers" group ?

Not possible….

Butt then…maybe why nothing left lose on ground….even Smart cars.

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kansai92

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Why don't they all raise rates collectively.

Then margins on their variable rate mortgages and loans will go up.

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Best place on meth

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"Detached home prices in Richmond, however, levelled off slightly, declining $25,000 in June.”

Really? A 2.5% drop in a month is now called leveling off?

Is 'flat market' Dave writing for these clowns?

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Patiently Waiting

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@jesse: "Sales of detached properties on the MLS® in June 2011 reached 1,471, an increase of 29.1 per cent from the 1,139 detached sales recorded in June 2010, and an 11.8 per cent decrease from the 1,667 units sold in June 2009. The benchmark price for detached properties increased 13.4 per cent from June 2010 to $901,680. Sales of apartment properties reached 1,266 in June 2011, a 0.6 per cent increase compared to the 1,258 sales in June 2010, and a decrease of 29.3 per cent compared to the 1,790 sales in June 2009. The benchmark price of an apartment property increased 3.5 per cent from June 2010 to $405,200." All the YOY sales increase and almost all the YOY price increase is in SFH. The gap between SFH and condos continues to widen, ruining the dreams of condo owners… Read more »

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Anonymouse

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@Best place on meth:

"Really? A 2.5% drop in a month is now called leveling off?"

2.5% in one month is basically noise. It's too early to call a trend.

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@Best place on meth:

Really? A 2.5% drop in a month is now called leveling off?

Why don't you look at the HPI charts you nimwit? This market had a ridiculous 20%+ gain in 3 months from Nov to Feb. Since then, bouncing around 'flat'. Maybe you can't distinguish between noise and trend?

http://www.rebgv.org/housing-price-index?region=R…

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@Best place on meth: By the way how's your collection going to leave town?

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Median prices from the report showed price declines in 9 of 12 SFH markets.

Only Van West, Burnaby, Coquitlam and Poco increased.

Also declines in 7 of 10 condo markets.

Only Van East, Burnaby, North Van increased.

For reference, the previous month showed price declines in 3 of 12 SFH markets and 4 of 11 condo markets.

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@Anonymouse: " It’s too early to call a trend."

Winner of the daily tautology award.

Bubble? What Bubble?