Friday Free-for-all!

It’s a fine Friday for another fabulous free-for-all post, so let do our regular end of the week news round-up and open topic discussion thread!  Here are a few recent links to kick off the chat:

Central one hopes for slip, not plunge
Jurock: sales and avg price way down
Harper wants to destroy RE market?
Economists forecast 5-10% price drop
Hoping for years of stagnation?
Scotiabank: correction in TO & VAN
Realtors: Calgary will avoid downturn
Richmond Realtor warns of decline
Carney: Rates can go up
Canadas trade gap widens

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

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bullshit
Guest
bullshit

oh really? I thought it was 222 years.. or something shorter like 88 years.. or maybe only 2 months.. are you sure?

Groundhog
Guest
Groundhog

@bullshit

Are you aware real home prices hadnt increased for 112 years, up until 10 years ago?

Do you even know what real home prices means?

bullshit
Guest
bullshit

funny how cheap it was 10 years ago right.
think in 10 years they will be saying the same thing.

vangrl
Member
vangrl

@patriotz

That’s nuts!

Not sure how that “Vancouver House” would fly with the city of Vancouver

Vote Down The Facts
Guest
Vote Down The Facts

@patriotz:

Eek.

vangrl
Member
vangrl

“Two-thirds of first-time buyers in the province admit they’re worried about affording their home if interest rates go up, the survey found.”

Omg… Did first time buyers all ride in on the short bus?

Read more: http://www.vancouversun.com/business/First+time+homebuyers+wish+they+second+chance+report/7067627/story.html#ixzz23HRb1zpd

vangrl
Member
vangrl

Not sure if this has been posted.

“Many first-time homebuyers said they could have been better prepared and more thorough when budgeting, the poll found. Thirty-seven per cent of those surveyed did not budget for ongoing costs such as maintenance and utilities, while 17 per cent overlooked some of the one-time charges like inspection fees and five per cent didn’t budget for anything beyond the down payment and mortgage payment.

Read more: http://www.vancouversun.com/business/First+time+homebuyers+wish+they+second+chance+report/7067627/story.html#ixzz23HQzMTth

Chabar
Guest
Chabar

@Proud and extremely rich Chinese home owners:

We know, you can live in the closet or storage even with multiple families.

patriotz
Member

@Vote Down The Facts:

No typo, here’s the home page for this prime property:

http://www.mondeliving.com/home/promotions.php

Go down to “Entire Two Bedrooms (Three beds) suite”.

Special feature: “entrance to suite from bedroom 1”. Just like Manhatten!

Vote Down The Facts
Guest
Vote Down The Facts

@Anonymous:

Must be a typo surely, they say it’s 2 bedroom and there’s a photo of a dining table.

Proud and extremely rich Chinese home owners
Guest
Proud and extremely rich Chinese home owners

@Anonymous:
To us it is very cheap

Turkey
Guest
Turkey

@Anonymous: It’s a bargain at ten times the price… suites close to ” Kind Edward ” are hard to find.

Anonymous
Guest
Anonymous

500 square feet in east van for $2000….wtf

http://vancouver.en.craigslist.ca/van/apa/3197111002.html

Anonymous
Guest
Anonymous

People worried about “high” sales numbers should read http://en.wikipedia.org/wiki/Dead_cat_bounce

TLDR: “even a dead cat will bounce if it falls from a great height”

Fred
Guest
Fred

@pricedoutfornow: #113, noone says being tenant is bad. only bears keep complaining and bitching about it(that is all they do anyway), ask vreaa.

Anonymous
Guest
Anonymous

@Anonymous: #127, you are an angry renter, arent you!

Anonymous
Guest
Anonymous

@Romeo Jordan: so you are saying your little box is going to be halved in value too? i dont feel sorry for you at all.

Anonymous
Guest
Anonymous

@patriotz: why dont you turn your saliva into money and then real estate? cant do it, can you! oh, i forgot, you left town!

patriotz
Member

sorry, continuing…

sense compared to productive assets like oil wells or what have you. And I can assure you the Cons don’t want that kind of price decline – they just want a “soft landing”, i.e. flat or very slowly declining nominal prices.

When Carney says people should invest elsewhere than RE, that’s the same thing as saying there’s an RE bubble, but he’s apparently not allowed to use that word.

patriotz
Member

@Anonymous:
“The conservatives want people to invest in “productive assets” not houses”

If that’s what they really wanted they would eliminate all government programs and tax policies that tilt investment toward RE.

Prices would have to come down 50% across Canada before investing in RE would make

patriotz
Member

@Anonymous:
“Why the anger? The trick is to start 12 years ago”

Yeah we get that part. But the part you don’t get is if you want to maximise your return you should sell now.

Buy low, sell high, you know?

Anonymous
Guest
Anonymous

@Anonymous: “It is going to make for very pleasant and early retirement.”

I doubt it. I say you will be broke and homeless after the bust. Maybe your wife can hook up with the tenant in the basement so she can have a place to live. I am sure she won’t forget about the good times with you – plunging toilets and trying to figure out how to make the next mortgage payment.

Anonymous
Guest
Anonymous

Perhaps Charles in his Georgia straight article may be onto something
I remembered hearing mark carney on BNN and found this link
The conservatives want people to invest in “productive assets” not houses
http://www.bnn.ca/News/2012/8/9/Loonies-strength-should-not-fuel-housing-Carney.aspx

HipsterBear
Guest
HipsterBear

@Anonymous: Blogging while at a party is very 2006.

Sent from my Blackberry

Anonymous
Guest
Anonymous

@Anonymous: Yeah, it’s pretty pathetic. But what are you doing here?