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Anonymous
Guest
Anonymous
3 years 6 months ago

The world didn’t end. Yay!

VMD
Member
3 years 6 months ago


Shaky foundations: How Ottawa’s computers get Canadian home prices wrong

Dec. 22 2012, 8:54 AM EST
Starting with this story, The Globe and Mail examines the foundation of Canada’s historic real-estate boom in a series.

admin
Guest
3 years 6 months ago
Thanks to Patriotz for adding some custom seasonal content to the site, and to everyone else who has contributed content, comments and data here. And a big thanks to Paulb who has provided us with daily market stats for a long time. We’ve added a ‘thanks’ banner to the right hand side bar that links to his site. If you’re looking to buy or sell real estate you’d have a hard time finding someone who is so dedicated to transparency. Congrats on the new kid Paul, and if you want to make a custom graphic (180 x 180) we’ll post… Read more »
Many Franks
Guest
Many Franks
3 years 6 months ago

Happy holidays all! It’s been a particularly interesting year to hang around this corner of the blog world (including vancouverpricedrop, VREAA, housing-analysis, fishyre, theeconomicanalyst, and apologies to whoever I’ve forgotten) and I expect the same from 2013. Congrats, Paul; thanks to everyone for the continuing analysis and commentary.

yvrness
Guest
yvrness
3 years 6 months ago

We wish you a Beary Christmas,
We wish you a Beary Christmas,
We wish you a Beary Christmas,
And a sensible New Year!

Village Whisperer
Member
Village Whisperer
3 years 6 months ago

Merry Chistmas to all.

Many Franks
Guest
Many Franks
3 years 6 months ago

@jesse: By the way, I hacked together a colourmap version of your correlation scatter plot. Black is oldest, red is newest.

Anonymous
Guest
Anonymous
3 years 6 months ago

Bunch of jerks here, I don’t wish you a merry Christmas. Why do you wish bad luck on people? I used to make over 100k a year in the good time and now it’s a struggle to cover the bills with sales being so low and you guys are happy? When people buy condos it creates jobs, but apparently you all don’t want some people to make money.

Makaya
Member
Makaya
3 years 6 months ago

I want to wish all the bulls and bears contributing to VCI a Merry Christmas. Thanks all for your contributions, it makes this blog very unique and special.

Cheers,

Makaya in frigid Winnipeg 🙂

ReadyToPop
Guest
ReadyToPop
3 years 6 months ago

@ Anonymous

When people buy condos it creates jobs, but apparently you all don’t want some people to make money.

I would love to see you making loads of money……selling cheaper real estate!

real_professional
Member
3 years 6 months ago
@anon You making 100k+ selling condos is only good times for you, not for the economy. If people purchased those condos with debt they just spent future consumption today. In other words, today’s condo flogging stole GDP from the economy of the future. Also remember, that granite counter tops and stainless steel provide no enhancements to productivity. Although we can both agree that they look nice and shiny. If you are lamening the loss of your past success, please don’t, especially on Christmas. Instead, view it as success that was not lost, but rather success that you never should have… Read more »
jay
Guest
3 years 6 months ago

Price drop:
after 176 days on the market, this $12,880,000 (?!) property now asking for $9,980,000, a $2.9 million drop (22.5%):

http://www.realtylink.org/prop_search/Detail.cfm?MLS=V960623&REBoards=All&From=MLS

Bo Xilai
Guest
Bo Xilai
3 years 6 months ago

Anonymous #7,

“I used to make over 100k a year in the good time and now it’s a struggle to cover the bills with sales being so low…”

Karma’s a bitch, ain’t she?

When you’re in sales, you can’t assume 100K is what you’re worth. Your nice smile and great golf handicap are not worth six figures.

Girlbear
Guest
Girlbear
3 years 6 months ago

Merry Xmas to everyone here! Thanks for helping me keep sane over the last few years!

FYI, been noticing the rental ads on CL are starting to get a lot more desperate…ie: “move in now one month free”, “free internet and cable for a year” “CALL NOW” type posts. So much for the lack of supply.

Feliz Navidad.

real_professional
Member
3 years 6 months ago

Spoke with a friend, one of those police officers that with overtime makes 200k a year, … anywho, he was bullish on real estate and would make fun of renters, he has no understanding of economics but has everything figured out… one of those types.

Well to my disbelief, he said that even he wants to sell his place and rent for a year before buying again

realist
Member
realist
3 years 6 months ago

My heartfelt thanks to those who regularly contribute here. I have faithfully read this blog for years, and I have found it immensely educational, as well as entertaining. Please do not stop! Merry Christmas!!!

Crikey
Guest
Crikey
3 years 6 months ago

Ditto on enjoying the comments of most who post here.

Merry Christmas!
(Belated) Happy Hanukkah!
Happy Winter Solstice!
Happy Festivus! When can we resume of airing of grievances?

No Noise
Guest
No Noise
3 years 6 months ago

Merry Christmas to the VCI admin and contributors who supply such a wealth of information. I try to pitch in where I can but I dont have the time nor the smarts/ability that so many of you do. Thanks to all for providing a sane outlet for understanding an insane RE market!

kansai92
Guest
kansai92
3 years 6 months ago
While we can agree most people who bought 1 or 2 years ago is losing money today if they sold (taking about 7% transaction cost into consideration), I know people who bought years ago and are either having problems selling today or have lost money. One guy bought 10 years ago but an assessment of $90,000 wiped out all of his gains. Another bought 5 years ago and can’t get an offer more than what he paid in 2007. On top of that, he put about $30,000 of renovations into the place over the past 5 years. Last guy made… Read more »
paulb
Member
3 years 6 months ago

Admin:

Thanks so much for the banner and the kind words!

What a Christmas surprise it was to login and read your post. The banner looks great and your support really means a lot.

Merry Christmas and Happy New Year to you and all the VCI members!!

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!
3 years 6 months ago

Merry Xmas and happy new year. I’m looking forward to 7 more years of bitter renters venting on this blog.

oneangryslav2
Guest
oneangryslav2
3 years 6 months ago

@ #19: “Only to have all of his profits rolled into yet another pre-sale that he moved into in 2008. ”

That’s the fate of most speulators. It takes a very disciplined gambler to walk away from the table when s/he is up. Most don’t leave until they’ve spend their last dollar.

No Noise
Guest
No Noise
3 years 6 months ago

@ #21 Bull Bull Bull

I’m looking forward to a few more years hearing from sane investors and recent sellers on this blog until such time that the correction has run its course and this blog will have served it’s purpose.

jay
Guest
3 years 6 months ago

More price drop:

Listed on May 4, 2012 for $10,380,000. Now for $7,990,000, a 23% drop.

http://www.julialau.ca/Properties.php/Details/491

real_professional
Member
3 years 6 months ago

Special thanks to: jesse, patriotz, paulb, VMD, Makya, oneangry slav, bestplace onmeth, unagidon, many franks, guy smiley, VHB, ham solo, vote down the facrs, and pope for filling and maintaining this blog. I think I got most of the regulars but I am sure I missed a number as well

jesse
Member
3 years 6 months ago

Definitely thanks to Paul Boenisch for being so consistent in producing the daily numbers. It may not sound like much but he has enabled us to predict market behaviour weeks in advance of official releases. I believe daily number releases has shown it theroretically possible for policymakers to be more reactive to how housing markets are behaving, and has allowed those who are invested in accurately predicting future domestic output due to housing market strengths and weaknesses to set up their trades a bit more in advance than others.

Makaya
Member
Makaya
3 years 6 months ago

Flat is the new Down. Who woud have thought?

The latest Christmas comedy, courtesy of Global, featuring Yuk Yuk’s favorite comedian Cam Muir…

http://youtu.be/rKiEnURr_Lg

And here is some honey for the Bears…

http://www.chpc.biz/vancouver_chart.html

Merry Christmas (again)!

Troll
Guest
Troll
3 years 6 months ago

Dec. 24th stats.

Sold: 0
Price Changes: 10
New Listings: 11

Anonymous
Guest
Anonymous
3 years 6 months ago

This never happens:
http://thezikomoletter.com/2012/10/31/this-never-happens/

“Exponential acceleration in the direction of a trend is never followed by stabilization at a new plateau. It does not matter if the chart represents Gold futures, or house prices, or population levels: extreme moves are followed by collapses, not by plateaus.”

Bo Xilai
Guest
Bo Xilai
3 years 6 months ago

On Julia Lau’s website it says…

“Sell your property in less than 30 days!
I have wealthy buyers waiting to buy your property.”

Having the $7.99M property listed for nearly 8 months and a 23% price drop would be a #fail.

Bag it and tag it
Guest
Bag it and tag it
3 years 6 months ago

#25 Real Prefessional. Nice work with your list of recognition, but did you have to include ‘Vote Down The Facts’?…I’ve never seen so many useless, counter-productive, nitpicking post in all my life.

Girlbear
Guest
Girlbear
3 years 6 months ago
Christmas story: Neighbour has had place on westside listed forever…at least 8-9 months. Had been holding firm on her price. About a month ago she told me she was taking it off the market and waiting for spring “when things would rebound”. Ran into her about a week after that convo and she said she had decided to take a lower offer afterall and had sold it because her friends had told her to take the money and run. (Incidently the lower bid was still very reasonable in my opinion and a mere 10% off ask). Anyhoooo, that bid fell… Read more »
Landbaron
Guest
Landbaron
3 years 6 months ago

Merry Christmas etc. to all!

If I could create a utopian society it would consist almost entirely of posters on this blog…spare a few.

Cheers!

jay
Guest
3 years 6 months ago
In an expensive city, realtors (the top 1%? of the 11,000 in BC) can make a good living, even in a slow market: Month (2012) sales Listing Price Jan. 0 Feb. 1 1,980,000 Mar. 2 1,399,000 and 1,250,000 Apr. 1 2,568,000 May 0 Jun. 2 7,999,000 and 548,000 Jul. 1 2,490,000 Aug. 0 Sep. 0 Oct. 0 Nov. 1 6,388,000 Dec. 1 5,900,000 I guess this Vancouver west side realtor made more than $500,000 in 2012, better than most of the doctors.
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[…] Jay posted a couple of recent discounts in the Vancouver real estate market, and boy do we have some deals for you. […]

Anonymous
Guest
Anonymous
3 years 6 months ago

Don’t worry, corrupt Chinese officials and super-fat and crooked businessmen affiliated with the party elites ,are now trying to tranfer their loot from the dying Nation,China, to oversea before the sky falling.Canada is the major reservoir for this massive loot,which has never seen in 5000 years of human history.Even the new Party Boss’s sister are living in English Bay,Vancouver BC

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