The incredible sinking Richmond

Inventory posted this update to detached sales in Richmond and it’s astounding.

We’re not at the end of the month quite yet, so this number will rise, but we would have to have an incredible amount of sales to not have July 2012 register as an all time record low number of sales.

Here’s the comparison for July detached sales all the way back to 1995, we’re currently sitting at about half of the low normal level:

Richmond Detached July

1995 = 108
1996 = 117
1997 = 122
1998 = 86
1999 = 113
2000 = 96
2001 = 183
2002 = 154
2003 = 209
2004 = 129
2005 = 170
2006 = 97
2007 = 175
2008 = 92
2009 = 221
2010 = 107
2011 = 123
2012 = 54 (-56%) ***July 29

Just what is happening there to the south of Vancouver?  Have houses in Richmond fallen out of favour with buyers for some reason?

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Martenson
Guest
Martenson

It’s a sausage party of a different kind. People need a little variety. After all, weren’t they expecting a little canadiana? Maybe the mainland move wasn’t such a good idea after all.

rp1
Guest
rp1

#44 @VMD: “The game is pretty much set. Time to heat up the popcorn, grab some more beer, and wait for the Cup ceremony.”

I wish I could believe that. I think you are underestimating governments and central banks.

http://www.alsosprachanalyst.com/economy/local-governments-in-china-to-stimulate-economy-despite-a-reluctant-central-government.html

There is no way out of the credit mess. The entire world must print or it all goes boom. They will surely print. They will print money until society collapses, just like every other civilization in history that has faced this problem. Money is dead.

Bear=loser
Guest
Bear=loser

@VMD: 6-4 after two periods? Must be the 84′ Oilers vs. 76′ Canadiens! Great analogy though VMD.

Krusty the Clown
Guest
Krusty the Clown

@Brian:

Richmond is a cold suburb. Not bike able, not walk able except around No 3 Rd. and about 70% overpriced.

Its barely even driveable. Bad signage, bad drivers, and congested traffic on certain routes.

IMO the only reason for living in Richmond is the close proximity to downtown.

VanDweller
Member
VanDweller
Copied from PaulB’s number. Thank you PaulB. http://www.paulboenisch.com/ Date List Price+- Sold Xpired Inv+- Inv S/L(%) 12.06.29 244 166 67 100 77 19630 27 12.07.03 304 188 116 1000 -812 18818 38 12.07.04 324 145 165 83 76 18894 51 12.07.05 281 184 112 91 78 18972 40 12.07.06* 12.07.09 278 195 158 19053 57 12.07.10 266 183 77 102 87 19140 29 12.07.11 222 140 134 125 -37 19103 60 12.07.12 216 165 115 69 32 19135 53 12.07.13 236 139 99 64 73 19208 42 12.07.16 248 165 107 170 -29 19179 43 12.07.17 211 156 137 105 -31 19148 65 12.07.18 214 118 100 82 32 19180 47 12.07.19 193 90 87 78 28 19208 45 12.07.20 212 123 61 72 79 19287 29 12.07.23 201 166 86 123 -8 19279 43 12.07.24 210 138 102 115… Read more »
VMD
Member

@HAM Solo:
See you in Berlin next Spring!

HAM Solo
Guest
HAM Solo

@VMD

Like it!

I feel more like the Realturds have been occupying Europe and we have just landed at Normandy with the Allies. No stopping us now.

UnagiDon
Guest
UnagiDon

“Shades of 2006: That’s What Australia Housing Bubble Looks Like From US Perspective”

http://globaleconomicanalysis.blogspot.ca/2012/07/shades-of-2006-thats-what-australia.html

VMD
Member
@gordholio: 2010-2011H1: Period 1: we were Team contrarian, the heavy underdog. Tough battles while already down 0-4. 2011H2-2012H1: Period 2: our offence picked up as we mustered strength. Goal #1 assist went to Flaherty (mortgage tightening in Spring ’11) (yes, he switched teams halfway in Period 1) Goal #2 assist went to Heavily-indebted Vancouverites Goals #3-#5 went in thanks to European crisis, China downturn, Poor population growth, and Poor employment all crashing the net. Commissioner REBGV tried to fool the audience by playing with the scoreboard and bribing the referees, but the pucks kept going in. 2012-H2: Start of Period 3, we’re already up 6:4 and momentum is clearly on our side. Team Bull was just called a 5 minute major and game misconduct (New CMHC rules). It seems like the bulls are about to be handed another double minor… Read more »
gordholio
Member
#11, Joe Blown Away: I agree with you on all those Richmond-centric points. I’m a fan of “big sky” country too. I’ll add that riding a bicycle around the perimeter of Richmond (basically on the dykes and then along a pedestrian/bike path that parallels #5 Road, usually cutting through farmland) is just great. We often take a long detour at the airport, riding the road that leads out to Iona. Makes for an excellent day. Otherwise, dang, I haven’t posted here for a long time. Nor have I complained to the MSM or written any over-the-top articles or driven my girlfriend to tears with my constant ranting. Hell, this was a lot more fun when we were surrounded by mass insanity and total bullshit. 🙂 Now it’s just a long, steady (and to many, hurtful) plunge. I’ve said it before… Read more »
jesse
Member

@Anonymous: I think patriotz was pointing out that all RF transmissions are analog. A “digital antenna” is designed for amplifying an RF waveform that is modulating a digital signal, but uses the same basic technology as the stodgy old UHF/VHF antennas.

http://spectrum.ieee.org/consumer-electronics/gadgets/antennas-for-the-new-airwaves

piklishi
Guest
piklishi

You know, Richmond is the last thing RE worries about, the problem is this is contagious…what if Langley, Surrey, Coquitlam, Burnaby and Vancouver start having the same low sales???

Hmmm, my guess is that prices will go down, a lot.

Anonymous
Guest
Anonymous

@Patriotz;

U sure? The first video actually specified that you need a digital receiver and had the warning that analog signals are coming to an end. I didn’t really watch any of the second video; it just looked a little closed to what I made.

They definitely work, FWIW. You get 4 or 5 crystal clear HD channels over the air. My understanding is that it’s actually better than cable as there’s no compression.

Apologies if I posted an incorrect link. Thanks for the catch ya jerk :p

Best place on meth
Member
Best place on meth

@Islander:

I see 3 sales and the idiots paid damn near full asking price.

metalhead
Member
metalhead

RE: Sun story on Realtors competing for listings.

Vancouver-based realtor Michael Tudorie said Whine, snivel, whine, cry, boohoo, whimper, whine.

LOL

Islander
Guest
Islander

How many Richmond sales today? 0?

paulb
Member

The Richmond numbers are spot on. What a mess! That’s way lower than any of the last 15 years.

4444 4444 4444 4444
Guest
4444 4444 4444 4444

The curse had taken hold.
Sorry to those who didn’t have the balls to get out in time.
tick tock tick tock

paulb
Member

New Listings 188
Price Changes 168
Sold Listings 89
TI:19351

http://www.paulboenisch.com

Anonymous
Guest
Anonymous
xyz
Guest
xyz

This site should be renamed “The Waiting Room”

Can’t wait to see today’s numbers!

How much??
Guest
How much??

VCI appeared to be offline for an hour or two today. Was this a technical issue, or something more nefarious in nature propagated by the dreaded Realtor-Hacker Cartel? If this was the work of the RHC, I would suggest we find the offending parties and lynch them Vancouver style. In other words, we tickle them until they pee themselves then post it on You Tube.

Can’t wait to see the #’s today PaulB!!

specialfx3000
Member
specialfx3000

“Sales” to “Price Change” ratio would also be fun to watch going forward.

900kCrackHouse
Guest
900kCrackHouse

Quiet day today. Looks like all the bulls and bears are on vacation and Ms. “I buy 3 my husband buy 3” has no time to write as she tries to figure out how to get the meth lab out of her rental property.

Trader Joe
Guest
Trader Joe

The Richmond market has begun to collapse. This is what the start of a collapse looks like.