Ha ha!

@Many Franks: “I’m not following your logic at all, but those do bother me. They’re asinine sloganeering that veers away from the critical thinking that I like about this blog, and towards groupthink.”

Get back to work Tsurd.

Some of you are far too touchy. There was no racism intended.

It could have been ANY name.

JOHN DOE anyone?

@YLTNboomerang
Thanks for the link. I enjoyed the documentary. I agree with the anxiety aspect of the documentary, but apart from this, I do not think things change that much from one generation to the next.
In my job I deal with 20-35 yr old people, and I see that same mix of lazy/hard working, mature/immature people as when I was a student myself…

…er, WONG.

Whatever.

“Richmond realtor James Wong also just wrote: “There are strong signs for a prolonged market downturn”

Interesting.

So, because some realtor named JAMES WONJ declares that it’s over…it’s OVER?

Got it. I think.

Speaking of million dollar homes, there are 43 million dollar homes from furry creek to the Squamish valley. A Realtor friend of mine said nothing above that price range is selling out here. He said there was one sale in Squamish over a million this year. With 27 over a million in Squamish alone, I think you could say that this market is f@cked.

@mclovin: “This is scary:

“There are currently over 5,000 homes in Vancouver
metro area for sale for over $1 million according to
MLS.ca. In comparison, the NAR reports that in April,
just over 7,000 homes sold in the entire US were sold for
over $1 million”

Yes, well of course! There’s no way Cam Good could take a dump in every major US City.

@Patiently Waiting: I’m still getting head around the fact…

Lucky you! 😀

@146 – yes the unemployment rate for 2-years out generalist degrees is depressing, but we are in a recession (or recent post-recession) environment, and I am sure that their unemployment % is still better than those in the SAME AGE bracket with no degree.

A better comparison is the 5-year out stats, where – historically – one sees much better numbers.

Still, not a great situation atm.

….and Real Estate is even worse than “Eal Estate”

@realist: Agreed. I am under 35 (32 to be exact) and only now am I realizing what money is and what I can do with it. Money, invested in a good index fund is way better than dumping your money in real estate. Timing the market in real estate is impossible. People I see nowadays just spend–with credit. People with middle class incomes buying million dollar+ homes like it’s no big deal. People who make 50K a year buying a 130K mercedes on credit. Crazy. People with no idea about how to budget. And this is largely in the Vancouver area. My American friends don’t dare buy million dollar homes, even though they’re all doctors who make 200k+ a year. My best friend in med school in the US is a specialist who still drives a Civic and rents. My… Read more »

http://vancouver.en.craigslist.ca/search/hhh/van?query=maynards&srchType=A&minAsk=&maxAsk=&bedrooms=

Plenty of rentals coming to market,

watch for thousands more in this area alone

You’re right Aleksey. When the weather was still good I went to a bunch of Open Houses in North Van (out of sheer curiosity after all the noise of imminent collapse) Man, what a shock!…to see that buyers are still dreaming and asking absolutely outrageous amounts for 50 year old dumps that are virtually tear-downs, and with realtors having the audacity to suggest that prices have now fallen to bargain levels. The (price to income) levels are so out of whack that the mere idea that prices may recover like they did after the 2008 slump are ludicrous when you stop to think about it, especially when money from China has dried up. I’m sort of puzzled that some credible authorities are only calling for a 20% drop. After defying reality for way too long, and with absolutely nothing to… Read more »

@ Patriotz

But the intention of those in the RE business who use the term isn’t to let buyers know that sellers are asking above market, but to make them think that RE is a good buy at the current market price. That is, it’s used to deliberately mislead people.

….which was the original intent of my sarcasm (if you scroll back) when I responded to Mclovin…you should count a few steamboats B4 you go off on a tangent, but go on ahead if you insist….

@Anonymous: You are right. I am a doctor, I’ve gone to school for many years to learn my trade and for this particular job, I need all that training. But for most jobs, experience is KEY. My friend, who has a Bachelors, one Masters, and on the verge of getting another Masters (in his early 30s) has never really worked other than the odd tutoring job. I think this is a big mistake. No one will hire him (other than minimum wage jobs). The problem is parents don’t understand this. They push their kids to get that four year degree, and the child, with no understanding of how the world works only knows to “go to school”. But you’re never really ever training for anything with your typical science or arts or even commerce degrees. Also, people with no experience… Read more »