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Anonymous
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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

@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.

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 »
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.

rp1
Guest
rp1

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

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

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!

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 »
midnite toker
Member
midnite toker

@Curtis: It’s a sasquatch ! Run !

Makaya
Member
Makaya
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

@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…

McLovin
Guest
McLovin
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.

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.

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.

Patiently Waiting
Member
Patiently Waiting
Patiently Waiting
Member
Patiently Waiting
Patiently Waiting
Member
Patiently Waiting

A few weeks ago, we were planning a possible trip through the southern Interior. We were hoping to see as many festivals as we could. Well, it turns out most have been canceled. Probably a combination of government cutbacks and poor economies. Expect to hear about more burning restaurants.

dyugle
Guest
dyugle

Or you could buy the 2.59 acre 18,000 square foot old elementary school for the bargain price of 230,000 on the same street in Greenwood.
MLS K213056

Anonymous
Guest
Anonymous

I’m assuming this will go down as a crappy sales weekend.

Happy Victoria Day!

jesse
Member

@VMD: What’s it rent for? Asking for a friend.

VMD
Member

Taking the 888 marketing to the max.
MLS®: V948888
For Sale: $438,888
Address: # 1508- 7088 18th Ave
Primary photo on MLS: you guessed it..

http://www.realtor.ca/propertyDetails.aspx?propertyId=11905038&PidKey=93785616

(I’ve been tracking a couple condos in Richmond/Burnaby area – Listing prices are gradualymelting over the last few months, and inventory has been steadily rising, first the 1BRs, but now the 2BRs are springing up all over the place too)

Bilbo Bloggins
Guest
Bilbo Bloggins

Oh man are small towns in BC ever going to take it up the chute or what.
There’s zilch for economy and prices are still ridiculous.
Waiting to cash in on rich boomers retiring?
Buying into the Ozzie mantra. “Buy anything within 4 hrs of Vancouver”.
How’s it feel getting sued old man?

Curtis
Guest
Curtis

What the hell is that Regal Ridge sculpture? Is that supposed to be Bigfoot or the swamp thing, and how is that supposed to make you want to buy real estate?

Looks like someone creeping through the bush.