Friday Free-for-all!

Hey, guess what? You made it to the end of another work week.  It’s friday and that means it’s time for us to kick back with our open topic discussion thread for the weekend.  Here are a few links to get the conversation started:

Will the US outpace Canadian growth?
The housing bubble makes us rich
Flying too close to the sun?
Vancouver slides, Toronto ‘balanced’
Commercial RE cheaper to buy 
A campaign based on video games
Mondo condo listings
Updated Real estate bubble chart book
Consumer debt growing slower
What to make of new HPI?
Olympic plunge in London prices
Comment formatting tips

 

So what are you seeing out there?  Post your news links, thoughts and anecdotes here and have an excellent weekend!

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Anonymous
Guest
Anonymous
asalvari1
Guest
asalvari1

@gLOO:

well, you asked for it.

it took approx 10 min to get your posts to “foreclosure” level.

gLOO
Guest
gLOO

@N: “It’s true that ask/sell numbers don’t tell us much, but in terms of reducing the value of this site, I think you are dreaming. When you compare that to the hundreds of posts about traffic, the behavior of Chinese people, the weather, etc., the ask/sell numbers pure gold.”

Crap is still crap. It doesn’t how much worse the turd beside it smells, it’s still crap. I just want to point that out. Let’s not discuss this further, and let people vote things up or down as they see fit.

gLOO
Guest
gLOO

@Best place on meth: Yes, it’s the real estate agent’s fault that you post out of context information.

N
Guest
N

@gLOO:

It’s true that ask/sell numbers don’t tell us much, but in terms of reducing the value of this site, I think you are dreaming. When you compare that to the hundreds of posts about traffic, the behavior of Chinese people, the weather, etc., the ask/sell numbers pure gold.

Best place on meth
Member
Best place on meth

@gLOO:

“what is the date and price of the last sale?”

Why don’t you ask a realtor since their criminal cartel keeps such basic information under lock and key.

Let us know how far you get with that.

gLOO
Guest
gLOO

@Best place on meth: Why do people keep posting these ask, sell posts without context? What is the assessed value? what is the date and price of the last sale?

these types of post distract from valuable discussion and reduce the value of this site.

gokou3
Guest
gokou3

@Best place on meth: On the other hand, the NV place was sold at $70k below assessed value of $1.12M.

gokou3
Guest
gokou3

@Best place on meth: Well that evancio place is assessed at $1.26M… so can’t really say it was too bad. Lucky seller.

Apocarypse Mao
Guest
Apocarypse Mao

@187 gokou3 Says:

Re: Station Square; I think that parking number on Anthem’s page refers to the existing parking. The Rezoning doc including proposed parking ratios are located here;

https://burnaby.civicweb.net/Documents/DocumentDisplay.aspx?Id=11812

N
Guest
N
Village Whisperer
Member
Village Whisperer

@Best place on meth: Anyone know what the house last sold for?

Anonymous
Guest
Anonymous

@Mick Murphy:
Yes, the real estate industry would only like us to pay attention to metrics that always go up. So when the average starts to fall it’s no good anymore and time to invent something new like say the HPI which can continue to rise forever.

Best place on meth
Member
Best place on meth

Poor, poor N. Van…..

968 FOREST HILLS DR, 20 days on market

Ask: $1.198M
Sold: $1.05M

12.5% below asking.

FlipFlop
Guest
FlipFlop

VMD Says;

“It’ll be fun to see the 2012 vci roller coaster..”

Maybe there should be a price level at which the roller coaster dives into the ocean, and becomes an underwater ride.

Best place on meth
Member
Best place on meth

Poor, poor Richmond….

9177 EVANCIO CRES, 3847 sqft, 76 days on market.

Ask: $1.488M
Sold: $1.26M

15% below asking.

gokou3
Guest
gokou3

This link on developer Anthem’s website shows they will build 1.6M+ SF of residential space at Station Square:

http://anthemproperties.com/properties-overview/all

Assuming 800SF per unit that’s 2000 total units. Plus there are 478k SF of commercial space.

And only 1205 parking spaces. WTF.

gokou3
Guest
gokou3

@Mick Murphy: “Average” home price trend for Canada in the short term is next to meaningless. However, when you get more granular, say, down to the municipal level or even down further to dwelling type, one can’t really argue anymore that the data are skewed, because such detail data are already quite homogeneous.

VMD
Member

@Best place on meth:
straight to the bottom of sea floor..?
http://www.youtube.com/watch?v=hqOn5XEm86A

It’ll be fun to see the 2012 vci roller coaster..

Best place on meth
Member
Best place on meth

@asalvari1:

Larry doesn’t realize that all the water has been drained from the pool.

asalvari1
Guest
asalvari1

Larry is calling out for a plunge in sales (and prices, implicitely):

http://www.yattermatters.com/2012/07/vancouver-is-about-to-make-a-splash/

I have never seen more bearish blog from him so far.

jesse
Member

Head’s up investors! Don Campbell not sanguine about Vancouver property in near term!

Buy gold

registered
Member
registered

180 Vote Down The Facts Says: “Meanwhile, Garth’s predictions are going in the opposite direction.”

The only sense I can make of it is he doesn’t want to risk being labelled a ‘doomer’ and losing page clicks. Historical valuations, affordability, price/rent and more all point to a dramatic negative correction.

Vote Down The Facts
Guest
Vote Down The Facts

@crashcow:

Meanwhile, Garth’s predictions are going in the opposite direction.

patriotz
Member

@Anonymous:
I have it straight.

I have a hunch someone might come up with a reply like yours. RE prices in Vancouver went up over the period 1991-2001 and there was a decline while Glen Clark was Premier.