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Anonymous

@annonymous: ….You guys do realize that realtors would love a steep drop in prices…their volumes would go through the roof as you all start piling into the market.Realtors must love you guys….

Ya, cause people will be lining up to purchase assets that are declining in Value. Not sue who'll be left to line up – the folks that haven't been foreclosed on yet?

annonymous

You guys do realize that realtors would love a steep drop in prices…their volumes would go through the roof as you all start piling into the market.Realtors must love you guys.

jesse

@TPFKAA: These data are not indicating a significant oversupply of dwellings, though tight rents are not good predictors of future price movements.

VMD

"Lawrence Yun – Chief Economist and Senior VP of Research for the National Association of REALTORS® – admitted to over-stating (by accident!) home sales statistics that has formed the cornerstone of his constant corner-turning commentary over the past few years"

– see graph in link. How surprising.

http://www.zerohedge.com/news/existing-home-sales

VMD

@TPFKAA: I'll repost (in fact China stocks continued their down trend tonight).. just in time when a new thread comes out in 3…2.. China’s RE is in the beginning of government-enforced downward spiral. (2012 will see the price drops in full force) Stock market also plummeting in China: As of tonight, Shanghai Index: -26% and dropping since Apr/11 Hang Seng Index: -25% and dropping since Apr/11 http://ca.finance.yahoo.com/q/ta?s=000001.SS&t=1y… Multitude of other indicators pointing to marked slowing of Chinese economy next year (the debate is whether the landing will be “soft” or “hard”). On Chinese forums there are more and more people talking about pulling their unsuccessful listings off the market in hope of re-listing during the “Chinese New Year” bounce (CNY = Jan 23). I’ve tried to be the voice of reason on the two main Chinese forums and created a… Read more »

TPFKAA

Here's another story on RE in China:
http://www.ft.com/cms/s/0/6b521d4e-2196-11e1-a1d8

“Prices are dropping fast and everyone is waiting for them to fall further before they think about buying”

I can hardly wait until the day somebody writes that about Vancouver.

TPFKAA

@TPFKAA:

oops nevermind; looks like VMD addressed this last thread.

TPFKAA

@midnite toker:

So does anyone have any idea what effect, if any, the China bubble popping is having on the Chinese community in Van so far?

midnite toker

@pricedoutfornow: http://www.latimes.com/business/la-fi-china-housi

here's another one –

"

Sales have plummeted. In Beijing, nearly two years' worth of inventory is clogging the market, and more than 1,000 real estate agencies have closed this year. Developers who once pre-sold housing projects within hours are growing desperate. A real estate company in the eastern city of Wenzhou is offering to throw in a new BMW with a home purchase."

TPFKAA

@jesse:

Before the Realtrolls get excited:

"Burnaby, Richmond, and Surrey all

recorded growth rates in average

rents at levels lower than inflation."

jesse

CMHC rental data. http://www.cmhc-schl.gc.ca/odpub/esub/64467/64467

Strong rental rate inflation and low vacancy rates in Vancouver core. There are some valid reasons for low vacancy rates.

Anonymous

@TPFKAA:

"Well done; I concede the point to a superior argument."

Thanks, I accept.

TPFKAA

@DEFAULT NAME:

by the way that comment was by me. I don't know why/how the handle got filled in as "DEFAULT NAME." Ugh; embarrassing.

TPFKAA

@DEFAULT NAME:

They once had the highest share of the markets that mattered. I took that as a good enough example. It didn't seem like this could be achieved by a small nation without some degree of innovation, but it seems Nokia's recent decline has proven they in fact had no innovative ability all along. Well done; I concede the point to a superior argument.

VMD

@DEFAULT NAMEe:

PaulB's Dec 1st Inventory: 14182

PaulB's Current Inventory: 13507

-> a drop of 675 with over 43% of month passed

REBGV offical end of Nov Inventory: 14090

(not sure if REBGV's Inventory is as of Nov 30 or Dec 1, as inventory usually takes a drop on last day of month as listings expire)

projected December Inventory drop: 1600-1800

projected end-of-year Inventory: 12000-12400

2010: 11000

2009: 8939

2008: 15193

2007: 9500

2006: 10000

2005: 7500

This year's year-end inventory should be approx 10% higher than last year's, and 33% higher than 2009's

Anonymouse

On a non-patent-related note, what's the magic end of 2010 inventory number that's comparable with paulb's dailies? Are we getting anywhere close? Total inventory has fallen off quite a lot the last week or so.

paulb.

Today:

New Listings 81

Price Changes 35

Sold Listings 79

Friday, Monday and Tuesday:

New Listings 189

Price Changes 96

Sold Listings 216

TI: 13507

Anonymous

@TPFKAA: "The bar must be quite high for a country of 5.5 Million that has had the dominant cellphone company in the world for years to be “known for a lack of innovation”."

Nokia is a 1990s has been. They can only sell their phones to third world countries. Hardly dominant.

I guess that is why they are moving to the US?

http://www.guardian.co.uk/technology/2011/feb/08/

"Nokia's new chief executive, Stephen Elop, is reported to be considering moving its executives to Silicon Valley, away from their base in Espoo, Finland…

it has been steadily losing market share, notably to Google's Android mobile operating system, which in the fourth quarter was shipped on more smartphones than any other platform."

Anonymous

@Hickory: "He can’t. He is so indoctrinated in the Anglo Saxon supremacist ideology that he cannot see profound changes in the world. West is self-destructed itself adopting neo liberal form of Capitalism. He cannot explain to himself how is possible to have kids going hungry in downtown east side or 50 million people are on food stamps in US. He cannot explain to himself the dictatorial powers in the EU countries that have push for draconian austerity measures. He cannot explain to himself that western countries now have unelected governments that have main objective to strip their citizens of all rights. He cannot explain to himself how banking oligarchy captured our Canadian government. We are bank serfs in our own country. Western financial system is crumbling as we speak but he cannot see that because he is blind. Blind of… Read more »

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@Makaya:

Holy crap, a realtor who's actually been paying attention.

Those are as rare as Finnish inventions.

Makaya

"Is housing bubble about to burst?" Tonight on CTV…

When this kind of news are on MSM, that's when the SHTF

Bonus: an experienced realtor saying that he sold everything and he's now renting!

http://www.citytv.com/toronto/citynews/videos/174

Best place on meth

Must be slow in the real estate market when we're discussing the Finnish education system and patent rights.

Anonymous

@DEFAULT NAMEe:

Nevermind, I am sure many nations are more innovative. I just am not entirely sure that Finland is especially known for a lack of innovation. I thought it was average, like most other countries. Is that not more realistic than your flippant comment that you are flipping a gasket over defending?? / Back to RE.

Makaya

@TPFKAA:

"Um, well, yeah… if you want to start using data… "

Anonymouse

@TPFKAA:

Patents haven't been about innovation for a long time. See the ongoing Apple vs Samsung nonsense if you needed any clearer evidence of that. Unless, of course, you consider the amount of beveling on a tablet's case to be a groundbreaking invention.

Also, number of patents per capita is pretty meaningless when you consider the backlog that the USPTO is under. If they hired a few more people and processed applications quicker would that somehow make Americans more innovative?