Sort by:   newest | oldest | most voted
CC
Guest
CC

I miss the long list of posts. I’m seeing the same for sale signs on properties week after week. The peak has definitely been reached.

Rakim
Guest
Rakim

@Bilbo Bloggins:

I was looking at moving to the Okanagan area. There is zero, zip, zilch for jobs in the area. The only way to move there is to be self-employed and work from home.

Penticton had the worst population decline in Canada last year.

Similar conditions on parts of the island and Sunshine Coast.

Outside of some suburbs, BC is an old folks home.

chilled
Member
chilled

The BC Economy tanks under the Lieberals and the media and followers analyze, question and look for economic reasoning and justification.

Same situation under a NDP government and everyone just blames the NDP government.

Christ the electorate in this Province is fucking stupid. I mean REALLY fucking stupid and will believe whatever CanWest / SHAW / Goebell’s tells them. Let’s watch the political pendulum swing once again.

McLovin
Guest
McLovin
Makaya
Member
Makaya

@patriotz: from your article:

But any substantial Chinese slowdown would cause considerable pain for resource producers such as Canada and Brazil and absolutely devastate the Australian economy, whose continuing health depends not only on strong exports to China and other emerging Asian markets but Chinese investment dollars flowing the other way.

Think about it for a minute…

TPFKAA
Guest
TPFKAA

@Anonymous:

Me too… Just got back from Qualicum Beach. There is an absolute forest of for sale signs, including existing houses, custom houses, recreational properties, lakefront lots, oceanfront lots, condos, new developments completed but empty, developments halfway built, developments just completed and for sale, developments coming soon, new subdivisions carved out of the earth at every turn, and too many open house signs to count. Every corner in every road you turn you see land or houses for sale. I was going to take photos but then realised my 32 gig sd card wasn’t enough. This is going Full Ireland before it ends.

Makaya
Member
Makaya
midnite toker
Member
midnite toker

@Curtis: It’s a sasquatch ! Run !

squeako
Guest
squeako
“Christ the electorate in this Province is fucking stupid. I mean REALLY fucking stupid and will believe whatever CanWest / SHAW / Goebell’s tells them. ” Well, I am not surprised, more what I expect. Looking at the housing bubble, how people just followed, not thinking for a minute.. What can one expect? Anecdotally speaking I know a few people that literally bought at the height, and feeling proud, still……hmmm. They are not rich, except some off shore who are not divulging their means/and how..hmmm. For survival, I keep my mouth slammed shut, smile and nod. Possibly, they may never clue in, but that is not my problem. I am greatful for this blog and its bright contributors, it has been the lighthouse in the storm. Always on the lookout for great blogs (as the media is .. I dont… Read more »
Makaya
Member
Makaya

We’re now the laughing stock of the world…

From business insider:

CRACK SHACK OR MANSION: How Well Do You Know The World’s Hottest Housing Bubble?

With Europe dominating the headlines, investors appear to be paying little attention to a housing bubble in Canada.
Prices for homes there—particularly in Vancouver—have been skyrocketing, as the developed market least affected by the financial crisis becomes overloaded by foreign cash.
To convince us of just how big a bubble might be developing there, pseudonymous hedge fund manager @Pawelmorski referred us to CrackShackorMansion.com, which asks visitors if they can tell the difference between Vancouver mansions that sold for more than $1 million and crack shacks.
We thought the distinction would be obvious. We were wrong.

Good job Vancouver!

rp1
Guest
rp1

#31 @TPFKAA: “Just got back from Qualicum Beach.”

Yet impossible to book a campsite. Can I book a foreclosed home?

rp1
Guest
rp1

#35 @Makaya: “CRACK SHACK OR MANSION”

We should all go post there, that this thing is old and it was proven not a bubble because most of those houses have doubled in value in the past year.

Makaya
Member
Makaya
This @one is a Craigslist ad from Toronto, but still interesting… We bought this unit from the builder at the very start, so we choose the best possible orientation, facing west, on the 20th floor, overlooking a low Police station that is never going to get any higher. 638sq ft, excellent floor plan with high quality finishes, a large balcony and a locker (no parking), located in a very exciting project with unbelievable amenities in the heart of Liberty Village. Time went by, we got a baby, this unit will be too small for us. We have the right to assign (sell our Agreement to purchase this unit), but not to publicly advertise (through MLS for instance). So we are looking privately for a buyer who is in no hurry (occupation date is June 2013).. We will pay the Assignment… Read more »
Anonymous
Guest
Anonymous

@rp1:

The crack shack or mansion site is a strawman. Most of the properties there are land value only – not even the most ardent bull would try and claim they’re mansions.

Anonymous
Guest
Anonymous

@chilled: “Same situation under a NDP government and everyone just blames the NDP government.”

You have to compare BC’s economy to other areas in order to gauge how the government is doing. The big difference of course is when the NDP were in power the economy was tanking in BC while everywhere else in Canada and most of the western world things were booming. When the Liberals took over things turned around and have kept up pretty well relative to the rest of Canada and the world economy. Of course the housing bubble has supported much of the BC economy but for those who cant see the bubble everything looks rosey. The next government term will be a disaster for who ever is in power as the bubble deflates.

Anonymous
Guest
Anonymous

@Makaya: “Think about it for a minute…”

You don’t want to be invested in the TSX.

McLovin
Guest
McLovin

#37

We should all go post there, that this thing is old and it was proven not a bubble because most of those houses have doubled in value in the past year.

Uh no. Most of those places are down in value some as much as 10%.

Gresko MCGresko
Guest
Gresko MCGresko

Hey everyone!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

BulbsForSale
Guest
BulbsForSale

Any predictions for list / sell stats for tuesdays return to work?

BulbsForSale
Guest
BulbsForSale

I think listings have tapered off, probably be under 300. Sales haven’t been too high though, probably under 200. That’s my guess.

Anonymous
Guest
Anonymous

@BulbsForSale: I wouldn’t be surpised if listing were higher, closer to 400. Also expect a fair amount of price changes.

Islander
Guest
Islander

Here are some Parksville/Qualicum stats from march. 20+ moi for townhouses/condos and 10+ for SFHs.

http://islandlifestyle.ca/wp-content/uploads/2012/04/Parksville-Qualicum-Statistics-Mar-2012.pdf

Suspectum
Guest
Suspectum

Another market anecdote: we went to look at a condo to rent today. The owner currently lives in it and has been trying to sell it since June, now wants to rent it out since even after taking it down ten percent and going lower than the 2007 price they had paid when it was new, there are no takers. It is located in poco and priced at 369000 for 1250 square feet. Rent demanded is 1450 a month….

jesse
Member

@Islander: “20+ moi for townhouses/condos and 10+ for SFHs”

That’s funny because Bob Rennie said that boomers are going to start downsizing. Guess they don’t like island living and prefer a 1 bedroom 500sqft condo in BPOE.

chilled
Member
chilled

@Suspectum:

As soon as he can sell you get your walking papers. Offer him $1000/mth stating this ‘risk’ as leases aren’t worth the paper they are scribed on.