While some Canadian cities offer reasonable affordability compared to household incomes, Vancouver’s housing is, by any measure, highly overvalued and vulnerable to a sharp correction. Prices have risen 55% from their 2009 trough to a level 29% above their prior peak. The average home price reached nearly C$800,000 (according to CMHC).
- Southern Gulfs - worm turning? Tipping Point?Guys Update on where I'm looking - headlines followed by very brief, kindergarten-level analysis, ie nowhere near Skook's incredible levels of scrutiny: Headlines: - inventory at a three year-high (85 properties for sale in my search area) EDIT** - now at 87 as of Saturday 7/5/14...** - one or two properties now on offer at 10% below assessment - m
- A Message from SkookThis is a difficult note to write because I tend to be very private when it comes to personal matters; however, to truly understand my silence this past month and what lies ahead I believe I must tell more than I would like to. I am a very sick little marsupial. Two days ago, I commenced treatment to deal with this serious issue - the first of many that will
- Calculating Fair Value in today's marketHi Gang I thought Skook, Navier and some others might have some perspectives on this. First of all, the situation: after a long period of inflation, many of us here recognise that certain peripheral markets are topping out, to put it mildly, or in slow multi-year decline. And yet certain sellers, or their realtors, are still proposing prices which are >20
- Economist Piece this week on CanadaThere's a piece in The Economist this week having a more-than-mild dig at the federal government for not doing enough quickly enough to cool down the housing market... notes that even the gentle decline the govt predicts will create a sustained drag on economic growth for years to come..,. worth a read for Skook and others! Jimmy
- Small House MovementInteresting about Bowen Jimmy. I like to look at raw unserviced land because that is what tends to slip first. Along with Recreational and 2nd homes. I recall going to an investment seminar in 2007 and one of the Margined Paperstock daytraders was wanting to know the best RE deal in Kelowna. I told him... start looking at Condos on Big White next year, buy i
- Sunshine Coast Sales Challenge - SCMEDHSPAnyone who has a keen interest in the Sunshine Coast real estate market and who has been following my sales stats posts knows that March sales were abysmal and April may be following suit. So, I thought it might be interesting to set up a pool and allow SC aficionados the opportunity to guess April’s detached sales outcome as we await the month to unfold. Po
- An Ode to the Open House - Fact or Fiction?An Ode to the Open House - Truth or Dare? 1. Open houses rarely sell houses. Few sellers understand that an open house usually does not sell that particular property. 2. Open houses benefit agents. Real estate agents pick up buyers at open houses. It is a tradition in the real estate industry. Hold an open house. Meet some good buyers. Take them out to look
- Sunshine Coast Data: Table of Threads (Read Me)The Sunshine Coast forum is now at 3 pages and counting; I obviously believe I have a lot to say. There is no doubt it is becoming unwieldy and any new visitor likely won't know where to begin. Regular visitors will have forgotten what was written months ago and I am falling into that category, too. Believe it or not, there are “themes” to my posts as I
- Sunshine Coast Small Business: A Looming Crisis?There has been much ink expended on a looming crisis in residential real estate as baby boomers begin to contemplate downsizing or cashing out the equity in their homes. As these homes are thrown on the market, the questions raised are: a) how will this impact home prices and b) who will buy these homes. What is not getting the same amount of attention is th
- Sixth + Willow - An Development AnalyisThis thread is about Six + Willow, a just-finished low-rise multi-family development at West 6th Avenue and Willow Street in Vancouver West. Formerly a small shopping center with an Apple Hill Farms market, the development consists of “25 architectural westside townhomes featuring the weathering steel screen” according to the developer’s marketing materials.
- Southern Gulfs - worm turning? Tipping Point?