Real professional posted an updated housing sentiment indicator over at Vancouverpeak.com
This is an excerpt from the housing bubble chart book produced by Pacifica Partners.
11 Comments
@VMD: Its funny how the same concerns weren’t there when mortgage qualification rules were loosened at the same rate in 2006-2008. Oh that’s right, tightening them isn’t good for business.
@Makaya: I like how they ended the letter with ‘yours very truly’…just in case they might have thought it was a joke…
“Recent Vancouver condo quick sales not sign of what’s ahead” Van Sun, Mar 20/12
http://www.vancouversun.com/business/Recent+quick+sales+signs+what+ahead/6332820/story.html
“Susan Rutledge, vice-president of sales for Intracorp Realty, said Intracorp will likely start selling the 284 units at its latest Metrotown highrise, Silver, in April. “We have a huge database of people registered, both individuals and realtors.”
Notice she said ‘realtors’ are registered. So Silver will ‘sell out’. But then, what are those realtors going to do with their assignments? Are they registering on behalf of clients? Or will they then try to sell the assignments?
Details of OSFI’s draft guidelines:
Canadian Mortgage Trends just published a piece on the long list of proposed mortgage/HELOC changes detailed in the OSFI report.
The guys at CMT seem concerned/scared about the government tightening things up too fast.
It should prove to be a good read:
http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2012/03/tougher-mortgage-qualifications-on-the-horizon.html#more
ok
Gresko: I will have mcfries, a mcnapkin, a mcdrink
Employee: What are you–
Gresko: SHUT UP I AM NOT DONE!
Employee- THIS IS WENDYS!
@Coley:
Blossoming community, luckily it was cheap… I mean to build it.
Let us see what this does to sentiment. I was visiting one of my favorite haunts, the old olympic village, to see how the old dear was holding up. She’s seen three Vancouver winters now, you know. Well, the truth is, the O.V. is looking pretty green still. In fact green seems to be growing everywhere. Green slime. The stone clad buildings are the worst. Their surfaces are badly discoloured in many areas and mould seems to positively thrive. The metal clad are the next worse, looking a little streaky already and algae starting to take hold. Glass clad seems to be holding out best, but this is a double edged surface. Because the glass panels are raised an inch or so proud of the walls it is only a matter of time before the ooze works its way behind… Read more »
You dummies (you know who you are) out there don’t get it do you.
I’ve been leading you along the right path, but still you question every move, every thought. Your weak.
This market is going tank, once the last of the idiotic 2.99% mortgage specials sucks in the last of the McLosins.
I stand by my prediction, ten percent off in a hurry, in a matter of months.
Suck it up McLosin (all of it, you’ve got to earn your twenty bucks)
http://www.aveos.com/EN/Documents/Operations/Termination%20Letter%20-%20All%20Employees%20(ENG).pdf
316 of them in Vancouver… Another blow at the local economy!
Repost from last thread, Scotia caved in first:
CdnMortgageNews: “Scotia’s 2.99% 4yr fixed promo has ended. Watching to see if other banks pull theirs as well… ”
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Thanks PaulB, the inventory level by region is most useful.
PaulB: New weekly stats section!! http://www.laurenandpaul.ca/Dexterselectmarketstats.ubr
New Listings 267
Price Changes 118
Sold Listings 158
TI:15837