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Anonymous
Guest
Anonymous

The world didn’t end. Yay!

VMD
Member


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.

VCI Admin
Admin

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 that in place of the one that we have now.

Happy Holidays and Merry Christmas everyone!

Many Franks
Guest
Many Franks

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

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

Merry Chistmas to all.

Many Franks
Guest
Many Franks

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

Anonymous
Guest
Anonymous

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

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

@ 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

@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 earned to begin with.

jay
Guest

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

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

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

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

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

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

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
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 money (paper gains) on two consecutive pre-sale condo flips. One in 2004 and another in 2005. Only to have all of his profits rolled into yet another pre-sale that he moved into in 2008. Now that last condo is worth… Read more »
paulb
Member

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!

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

oneangryslav2
Guest
oneangryslav2

@ #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

@ #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

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

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

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