Friday Free-for-all!

It’s that time of the week again, lets do our regular end of the week news round up and open topic discussion thread for the weekend. Here are a few links to kick off the chat:

11,000 units for sale on the fifth day of the year
Is Toronto hotter than Vancouver?
Fire Damage: When due diligence isn’t enough
Residents gloomy about BC economy in 2012
Assessments generate range of emotion
Income gap widest in the west
Homeowners willing to compromise a bit
Vast majority of Canadians believe country is in a recession
TD predicts trouble for BC real estate

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

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blueskies
Guest
blueskies

this has the same "uh oh" feeling as
Calgary circa 1981………

but I could be wrong……..

it is different here…….much higher highs

it is different this time…..
more fools believing
the laws of gravity
doesn't apply in YVR

gonna be an interesting ride….

Boombust
Guest
Boombust

Calgary?

Try Vancouver."Deja vue all over again."

Not Ready To Be Slav
Guest
Not Ready To Be Slav

looks like this year will be the last one for some Burnaby office:

http://quote.morningstar.com/Stock/s.aspx?t=EK

not a good news indeed, especially for employees get used to the big salaries (it was not bad there for a while) …

Anonymous
Guest
Anonymous

blueskies,

how many lame poets have you made since posting in VHB and chipman blogs? i guess, you are still sitting there making poets and paying rent eh!

Jim
Guest
Jim

Interesting. With all the prognostications and gloomy reports coming out from banks and international organizations, one is tempted to ask whether mass psychology will begin to shift. Herds change direction slowly, but when they do….

Sheesh
Guest
Sheesh

Can anyone add some perspective to the 11,000 units number? That doesn't really seem that high to me but I guess I'm missing something. How does that compare to previous years?

specialfx3000
Member
specialfx3000

Is it just me or has the troll-bulls been acting extra antsy lately? From attacking bears to posting more than the usual nonsense, it's as if they are using this blog as therapy to deal with the upcoming bust.

I guess in their minds, if they stomp really hard and loud, everything will be ok.

WFT?
Guest
WFT?

@specialfx3000:

The troll-bulls have been extremely panicked and franting. I have not seen anything like it on this blog for many years.

Clearly the 13% drop in the average price since Many 2011 combined with the current listings avalange has them bonkers and freaked out.

900kCrackHouse
Guest
900kCrackHouse

@Not Ready To Be Slave: My impression was that Creo (now Kodak) did not pay that well compared to other tech companies.

Fishbowl
Guest
Fishbowl
Is it just me or has the troll-bulls been acting extra antsy lately? From attacking bears to posting more than the usual nonsense, it’s as if they are using this blog as therapy to deal with the upcoming bust. I guess in their minds, if they stomp really hard and loud, everything will be ok. _______ Its just you.. Yawn…RE "bulls" posting means that the end is near… Yawn…same misguided RE "bear" reasoning EVERY year… Yawn…bulls sure are "frantic" after seeing massive price increases for years….and witnessing a "drop" in prices that got no media play Yawn…RE bears must think that if they pi#@ into the wind long enough it will actually stick to the ground instead of coming back into their faces…like it has for the past 7 YEARS… Lol…I love RE bears Bears…please be sure to get extra… Read more »
registered
Member
registered

7 specialfx3000 Says: "From attacking bears to posting more than the usual nonsense, it’s as if they are using this blog as …"

…. a marketing tool. Your results may differ, my #1 hit on Google for 'Vancouver condos' comes here.

Troll
Guest
Troll

@fixie guy: Cuckooo Cuckoo

Fixiee Guy
Guest
Fixiee Guy

Great news! Unemployment up…Our dreams are coming true.
http://www.bloomberg.com/news/2012-01-06/canada-s

WFT?
Guest
WFT?

@Fixiee Guy:

Don't worry about that. You still have the mainland chinese buyers, right?

crabman
Guest

@Sheesh: 11,000 is the 2nd highest inventory to start the year since 2006.

http://vancouvercondo.info/forum/topic/inventory-

Anonymouse
Guest
Anonymouse

@fixie guy:

"Your results may differ, my #1 hit on Google for ‘Vancouver condos’ comes here."

Not for me, regardless of whether I put it in quotes or not.

Anonymouse
Guest
Anonymouse

@DEFAULT NAMEe:

OK, so "Vancouver condo" (no plural) brings this blog up as the first hit.

gordholio
Member

Fishbowl: Tell me, who will buy rotting $1 million teardowns when: A) Everyone has already burned through their money, and their credit, B) Most anyone who could even conceivably own a home already does, C) The Chinese hordes are retreating, D) The price of virtually everything else in our lives is spiraling upward, E) Even the mainstream media now preaches the fact our RE is sadistically overpriced and on its way down, and F) Your lord and master, Cam Good, now admits to a bubble and as of November moved his fleet of Sikorskys to Arizona?

http://www.terrizona.com/company/founders

Best place on meth
Member
Best place on meth

@Fixiee Guy:

"Manufacturing employment rose by 30,400 in December, followed by a 16,100 gain for professional, scientific and technical service workers, Statistics Canada said.

"Employment in finance, insurance real estate and leasing fell by 14,500 and construction jobs decreased by 12,800."

Real, productive jobs are up. Useless, parasite jobs are down.

I endorse this employment report.

Anonymous
Guest
Anonymous

every year, they come up with the same reasons again and again!

Fishbowl
Guest
Fishbowl
Fishbowl: Tell me, who will buy rotting $1 million teardowns when: A) Everyone has already burned through their money, and their credit, B) Most anyone who could even conceivably own a home already does, C) The Chinese hordes are retreating, D) The price of virtually everything else in our lives is spiraling upward, E) Even the mainstream media now preaches the fact our RE is sadistically overpriced and on its way down, and F) Your lord and master, Cam Good, now admits to a bubble and as of November moved his fleet of Sikorskys to Arizona? ________ Yawn….same old arguments, especially the "who can possibly buy" line… That is so 2006 since we have had "historically high" ownership rates since then…of course each year the market gets better and better…and the ownership rates go higher and higher.. Of course,while the… Read more »
registered
Member
registered

17 DEFAULT NAMEe: Yep, that's why I was specific. Thanks for the results. Also wasn't sure if VCI got pushed up in my personal search as part of Google's targeting algorithms. 'Vancouver condos' without quotes as of today puts VCI at result #11.

Lol, funny to see that marketing comment down-modded so quickly. Talk about confirmation.

Yalie
Guest
Yalie

@Fishbowl:

According to Teranet, Vancouver prices peaked in August at an index level of 170.77.

http://www.housepriceindex.ca/default.aspx?langue

I would be willing to bet that level won't be reached again within the next year, and I suspect I'm not the only bear around here who would take that bet.

Who's in?

Fishbowl
Guest
Fishbowl

I would be willing to bet that level won’t be reached again within the next year, and I suspect I’m not the only bear around here who would take that bet.

Who’s in?

______

Yawn….same bet made by bears…see 2009, 2010, 2011….

And each year, you are always "surprised" when prices rebound, or go up, or reach all time highs..

After 7 years of disappointments, you should no longer be surprised or put your faith in "peaks"

rksleung
Member
rksleung

http://howestreet.com/2012/01/trojan/

How come Garth Turner is saying that some areas in Toronto would only be correcting up to 10% even if there is a housing crash in Canada?

I don't get it. He has been a bear in housing but somehow he feels that some areas in Toronto will withstand the crash a lot better.

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