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Friday Free-for-all!

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132 Comments

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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[…] to outnumber buyers as people who haven’t managed to sell relist their property, but the ratios paulb just posted are mindboggling: New Listings 376 Price Changes 56 Sold Listings […]

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patriotz

@Patiently Waiting:

"One thing to consider is suburban Vancouver may have more highrise construction in the suburbs than Toronto. T"

City of Toronto (former Metro Toronto) has 1/2 the CMA population as opposed to 1/4 for City of Vancouver, so we have a bit of an apples to oranges problem here, i.e. City of Toronto contains almost all of the CMA's inner suburbs.

You really need to compare CoT to CoV+Burnaby+New West+Richmond+North Shore.

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fixie guy

@124 The Leak Says: "Oh right, I’m unemployed already"

Your tax dollar doesn't guarantee my job, why should mine pay for yours? Maybe leaving the easy of money of the factory floor for university wasn't such a bad idea.

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squeako

I think what ruined the city was peoples greed, and it comes back to bite em in the patootie.

What happened to some good old fashioned common sense??

I dont have an economics degree, but know what an outhouse is, and what a dollar is. And I aint paying a million dollars for an outhouse. Nope.

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Dabster

@Tony:

I have to admit that you are right.

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rp1

#124 @The Leak: The sooner it happens the less damaging it will be. You don't fix a bubble by letting it grow, although that was precisely our government's policy.

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Tony

I want all these ham speckers to suffer. The ruined my city so they could make money. F them.

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Dabster

@The Leak:

Hey buddy, we don't 'pray' for economy to collapse or people to suffer just for housing market to get back to common sense, fundamentals and its historical norms, that's all.

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The Leak

great number folks…lets keep our fingers crossed and hope this market gets pummelled and the economy completely collapses. Oh right, I'm unemployed already 🙁

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Best place on meth

The big question:

2 inventory parties this month or 3?

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VHB

January

sell list sell/list

2001 1225 3395 36.1%

2002 2248 3626 62.0%

2003 1966 3810 51.6%

2004 1954 3039 64.3%

2005 1697 3360 50.5%

2006 1924 3471 55.4%

2007 1806 4067 44.4%

2008 1819 4675 38.9%

2009 762 3700 20.6%

2010 1923 5147 37.4%

2011 1819 4801 37.9%

Mean 1740 3917 44.4%

median 1819 3700 47.5%

Sell-list so far is lower than 2009. Just sayin'.

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VHB

Jan-2012

Total days 21

Days elapsed so far 5

Weekends / holidays 4

Days missing 0

Days remaining 16

7 Day Moving Average: Sales 52

7 Day Moving Average: Listings 274

SALES

Sales so far 259

Projection for rest of month (using 7day MA) 829

Projected month end total 1088 +/- 276

NEW LISTINGS

Listings so far 1371

Projection for rest of month (using 7day MA) 4387

Projected month end total 5758 +/- 945

Sell-list so far 18.9%

Projected month-end sell-list 18.9%

MONTHS OF INVENTORY

Inventory as of Jan 9, 2012 11363

MoI at this sales pace 10.45

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vhb mobile

Wowa! Nice numbers today PaulB!

That's is truly insane.

I shall dine on a HAM sandwich in honour of these numbers.

Whatcha say–12K party on Friday?

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Best place on meth

Last year we didn't get 376 listings until March 3rd and 11,363 inventory came Feb 4th.

This has all the makings of a panic, especially if momentum chasing HAM have become sellers.

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Congo

@paulb.: Ahhh if every day were like today, this world would be a better place….

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VMD

@paulb.:

thanks paul, exactly what I needed after a long day's work : )

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Patiently Waiting

@paulb.: STAMPEDE YEEHAW

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paulb.

Wow!

New Listings 376

Price Changes 56

Sold Listings 43

Westside is nuts:

New Listings 96

Price Changes 10

Sold Listings 5

TI:11363

http://www.laurenandpaul.ca

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Makaya

@Patiently Waiting: Yes. Coming back to Toronto, if you add to it the #s from Mississauga on the graph, it gets even more insane. As Russel Peters put it: "Somebody Gonna Get a Hurt Real Bad"…

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Anonymous

@Makaya: …Condo bubble in Toronto? I guess the chart speaks for itself……

But it's different there. Everybody wants to live there and they're running out of land. It doesn't rain there every day but people will get over that.

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Patiently Waiting

@Makaya: One thing to consider is suburban Vancouver may have more highrise construction in the suburbs than Toronto. That comparison, I'd like to see.

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N

@jesse:

"The bank cannot renew at negative equity because they are required to have the loan insured and the borrower does not have enough equity to even qualify for that. They will either bitch and scream at the government to bail out their bad loans or go after the existing assets of the debtor."

Nah.

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Makaya

@Patiently Waiting: Good catch, I saw it right after I posted it… I guess I was expecting Vancouver to be comparable to Toronto 😉 This chart simply shows how insane the situation is in Toronto!

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Patiently Waiting

@Makaya: Its there, Vancouver has 8 in January and 11 in October. Way less than Toronto, but still a lot more than some major American cities.

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Makaya

Condo bubble in Toronto? I guess the chart speaks for itself…

http://img818.imageshack.us/img818/1857/torontoco…

I would love to see the same data for Vancouver/Lower Mainland.

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