How Vancouver neighbourhoods are divided.
Apparently like this (click image for larger version):
This post was submitted by thenonymous.
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on Big banks facing home credit risk@mac: @condo watcher: Wait! I don't think that was explanation enough for you. By PAST, I mean a few years
on Big banks facing home credit risk@mAC HOW DO YOU GET A SALES TO LIST FIGURE OF 115%--are they selling stuff that's not even on the
on Big banks facing home credit riskHopefully this time it works. Copied from PaulB’s number http://www.laurenandpaul.ca Using good-format’s format. Date Listing Price(+-) Sold Inv Inv(+-) S/L(%)- on Big banks facing home credit risk Sorry for the previous post. I seem to have lost my PRE tag "touch".
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December 15th, 2011 at 7:02 am
@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?
December 14th, 2011 at 10:48 pm
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.
December 13th, 2011 at 8:38 pm
@TPFKAA: These data are not indicating a significant oversupply of dwellings, though tight rents are not good predictors of future price movements.
December 13th, 2011 at 4:52 pm
"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…
December 13th, 2011 at 4:37 pm
@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 thread discussing Van RE stats. Over the last 4 months it had garnered ~20k views on Westca forum and ~11.5k views on Iask.ca forum. I had made a number of people consider delaying their RE purchases, and in a limited way reduced the # of realtor BS posts on those forums.
With the public sentiment on RE profitability reversing, 2012 should prove to be an exciting year for us.
(The link below is the Westca forum-RE section, the highest view-count thread in the non-sticky section is mine ) http://www.westca.com/Forums/viewforum/f=74/lang=…
December 13th, 2011 at 1:54 pm
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.
December 13th, 2011 at 1:34 pm
@TPFKAA:
oops nevermind; looks like VMD addressed this last thread.
December 13th, 2011 at 1:32 pm
@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?
December 13th, 2011 at 1:29 pm
@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."
December 13th, 2011 at 1:29 pm
@jesse:
Before the Realtrolls get excited:
"Burnaby, Richmond, and Surrey all
recorded growth rates in average
rents at levels lower than inflation."
December 13th, 2011 at 1:13 pm
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.
December 13th, 2011 at 12:44 pm
Seriously though, I think of what Vancouver was and what it is now.
Vancouver was a town of white people with British origins. The streets and houses were clean and tidy and people said please and thank-you a lot. But the city has grown. Vancouver will never be that city of the past. If you want that feeling of what Vancouver was, you have to go to someplace like Kelowna, Vernon, Prince George or back east to Halifax.
By American standards, Vancouver is a nice city. But so was Los Angeles in the 1950′s. I really can’t see Vancouver ever getting better, I can only see the constant decay to a city like Los Angeles.
December 13th, 2011 at 12:40 pm
@TPFKAA:
"Well done; I concede the point to a superior argument."
Thanks, I accept.
December 13th, 2011 at 12:38 pm
@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.
December 13th, 2011 at 12:35 pm
@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.
December 13th, 2011 at 12:14 pm
@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
December 13th, 2011 at 11:32 am
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.
December 13th, 2011 at 10:30 am
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
December 13th, 2011 at 10:28 am
@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."
December 13th, 2011 at 10:22 am
@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 hatred."
He can see it, he just has a different agenda.
December 13th, 2011 at 10:13 am
@Makaya:
Holy crap, a realtor who's actually been paying attention.
Those are as rare as Finnish inventions.
December 13th, 2011 at 9:52 am
"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…
December 13th, 2011 at 9:50 am
Must be slow in the real estate market when we're discussing the Finnish education system and patent rights.
December 13th, 2011 at 9:48 am
@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.