Friday Free-for-all!
It’s the end of another week and that means it’s time for our weekend news wrap up and open topic discussion thread! Here are a few links to kick off the chat:
-Condo markets in Toronto and Vancouver at risk
-Vancouver 2011 market update video
-What $1.8 million gets you in Arkansas and Vancouver
-Nine wonderful bubbles
-Condo risk bubbles up
-Royal LePage says banks are wrong, prices will not drop in 2012
-Bernanke saw ‘relatively soft landing’ in 2006
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So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!
“I’m running out of patience with the bubble in the city. If it does not pop soon I’ll move on to another city or country.” | Vancouver Real Estate Anecdote Archive Says:
January 19th, 2012 at 10:32 pm
[...] “I’m running out of patience with the bubble in the city. If it does not pop soon I’ll move on to another city or country. So plans do revolve around the housing market for most – either counting on real estate for retirement, or deciding to stay/leave. And that dependence grows as one gets older, has kids and thinks about school districts.” – 604x at vancouvercondo.info 15 Jan 2012 at 6:22pm [...]
Friday Free-for-all! | Vancouver Peak Says:
January 17th, 2012 at 4:03 am
[...] The Pope for Vancouver Condo Info, 2012. | Permalink | 158 comments | Add to del.icio.us Post [...]
Spot The Speculator #72 – “My colleague has been bragging about the price of his house for the past 4 years. On Friday, I told him we are passed the peak, and that I know of two families who sold in June and are proud of their timing. He turne Says:
January 16th, 2012 at 6:00 am
[...] “My colleague B. has been bragging about the price of his house for the past 4 years. On Friday, I told him we are passed the peak, and that I know of two families who sold in June and are proud of their timing. He turned white. I showed him Larry’s graph on my laptop. Sorry to say it, but it felt good to look at his face. He could hardly work in the afternoon, trying to gather data on the web. His conclusion: he is late, and his last chance to cash in is in the next two months, if there is any HAM left. I realized that, in his mind, he did not have a 2.5 million $ home, he thought he HAD 2.5 MILLION DOLLARS (and plans about how to spend it). And suddenly, those 2.5 millions have turned into 2.2, therefore he FELT HE HAD LOST $300,000. I now understand better the psychology behind a rush to the exit. I also realized that for 4 years, he was never living in a home, but just camping in an investment.” – DEFAULT NAME at vancouvercondo.info 15 Jan 2012 at 9:14am [...]
January 16th, 2012 at 4:36 am
patriotz #155,
the way you think, no wonder you had to leave town all the way to ottawa. how is the warm weather and affordability there working out for you?
January 16th, 2012 at 2:01 am
@patriotz: is this you? http://vancouvercondo.info/forum/topic/live-from-…
January 15th, 2012 at 5:23 pm
@crashcow:
"After accounting for ownership premium (maintenance fees + property tax + interest charges – rent saved)"
Could we dispense with the shillspeak on this board? Nobody would say that if you owned a business that bled cash you were paying an "ownership premium". It's an operating loss.
January 15th, 2012 at 3:33 pm
Before I get flamed too badly, here's an article offering sources/data for the innuendo in my prior post.
http://www.time.com/time/world/article/0,8599,207…
There is a big difference between selling immigration visas to entrepreneurs who earned their dough, and those who stole it (or wish to hide the cash in Canada from taxes in China).
A solution: Canada enter a tax treaty with China to share property information. That might quickly weed out the corrupt immigrants from the legit investors. BTW, this country needs the legit Asian investors – and average Canadian worker needs a kick in the ass.
January 15th, 2012 at 3:27 pm
@DEFAULT NAME: lol, thanks for confirming my point. It didn't take long indeed!
January 15th, 2012 at 3:22 pm
@Makaya: "it won’t be long until you’ll be called a racist…"
It is what it is. No one needs to call it. Racism is about fear and you are scared shitless.
January 15th, 2012 at 3:17 pm
http://www.vancouversun.com/business/Giving+thank…
Vancouver real estate now tied to the Mayan calendar