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VCI Admin
Admin

Hey look! First post! 😀

Jesse doesn’t mention it in this story, but he’s got a pretty strong prediction track record having won the 2012 price prediction contest.

Here are the results of that one.

OVERALL SCORE:
#1: Jesse: 39 pts
#2: The Ant: 26 pts
#3: Absinthe:13 pts

Anonymous
Guest
Anonymous

Nobel prize winning Economist says USA should mint a trillion dollar coin to deal with its debt problems. Cold this work?

http://www.cbc.ca/news/world/story/2013/01/08/f-trillion-dollar-coin-paul-krugman.html

Anonymous
Guest
Anonymous
One more thing on the trillion dollar coin. The absurdity of it kind of reminds me of that episode of Married With Children when Al Bundy wanted a 99 cent coin because so many price points end in 99 cents (maybe they could have used a loony–it’s worth 99 cents US on lots of days). But doesn’t the notion of a trillion dollar coin sound absurd! It’s hard to believe that it’s being seriously discussed–and by a nobel prize winning economist at that! This seems to be indicator of some kind of a top or some kind of threshold has been passed. When such farcical ideas are being discussed seriously, you have to think the whole entire economic system is just totally beyond the pale. The whole thing is such a blatant ponzi scheme–you don’t need an economics degree to… Read more »
patriotz
Member

“The uneducated man on the street can see the whole US economy (and therefore the world economy) is a giant ponzi scheme”

The world economy can’t be a ponzi scheme because ponzi schemes don’t produce anything by definition. Of course the world economy produces things – even the US does. The issue is how the productive parts get back into balance once the ponzi parts collapse, as they must eventually.

patriotz
Member

Krugman is actually making fun of Congress’s refusal to get serious about fiscal issues.

However technically it could work because coinage as opposed to paper money is not issued by the central bank but by the government itself and is not backed up by debt (this is also true in Canada). Thus the government is creating a nominal asset out of nothing to pay off its debt.

This isn’t an original idea really, it’s similar to those advanced by Social Credit (not the WAC Bennett version) and similar groups in the US a long time ago.

The Predictator
Guest
The Predictator

Category 1: Aggregate, percent change from December 2012
-20%

Category 2: Average, percent change from December 2012
-20%

Category 3: Regional SFD MLS-HPI, percent change from December 2012
-20%

The Predictator
Guest
The Predictator

“But doesn’t the notion of a trillion dollar coin sound absurd!”

Absurd. It worked out OK for Zimbabwe didn’t it? Forget about 1 trillion. Go straight to the $100 trillion coin.

http://online.wsj.com/article/SB10001424052748703730804576314953091790360.html

Groundhog
Guest
Groundhog

@Absurd. “It worked out OK for Zimbabwe didn’t it? Forget about 1 trillion. Go straight to the $100 trillion coin.”

A 100 trillion coin? Now that would just be absurd!

Bank of America’s take on it I think is the best I’ve seen here:
http://www.zerohedge.com/news/2013-01-08/bank-america-trillion-dollar-tooth-fairy-straight-land-fiscal-make-believe

The Predictator
Guest
The Predictator

“The world economy can’t be a ponzi scheme because ponzi schemes don’t produce anything by definition.”

Not true. They often produce fancy brochures and marketing materials. Kind of like the BC economy.

Harry Wang
Guest
Harry Wang
RFM
Guest
RFM

More than a prediction! More than mere supposition! Absolutely NO guesswork involved!

The newly-developed Ping Pong Pricing Principal (PPPP), explained here: http://vancouverpeak.com/Thread-PPPP

HAM Solo
Guest
HAM Solo

Category 1: Aggregate, percent change from December 2012
-18%

Category 2: Average, percent change from December 2012
-16%

Category 3: Regional SFD MLS-HPI, percent change from December 2012
-15%

Groundhog
Guest
Groundhog
JUNE 2013 Category 1: Aggregate, percent change from December 2012 -Greater Vancouver Composite MLS-HPI -3% -Greater Vancouver SFD MLS-HPI -2% -Greater Vancouver Apartment MLS-HPI -4% Category 2: Average, percent change from December 2012 -Greater Vancouver detached average -4% -Greater Vancouver attached average -5% -Greater Vancouver apartments average -5% Category 3: Regional SFD MLS-HPI, percent change from December 2012 – Burnaby South SFD -3% – Coquitlam SFD -1% – North Van SFD -3% – New West SFD -1% – West Van SFD -4% – Van East SFD -6% – Van West SFD -4% – Richmond SFD -4% DEC 2013 Category 1: Aggregate, percent change from December 2012 -Greater Vancouver Composite MLS-HPI -7% -Greater Vancouver SFD MLS-HPI -4% -Greater Vancouver Apartment MLS-HPI -10% Category 2: Average, percent change from December 2012 -Greater Vancouver detached average -9% -Greater Vancouver attached average -10% -Greater… Read more »
Groundhog
Guest
Groundhog
Sorry, looks like we can enter for both the main category and sub? If so use this one: JUNE 2013 Category 1: Aggregate, percent change from December 2012 -3% -Greater Vancouver Composite MLS-HPI -3% -Greater Vancouver SFD MLS-HPI -2% -Greater Vancouver Apartment MLS-HPI -4% Category 2: Average, percent change from December 2012 -5% -Greater Vancouver detached average -4% -Greater Vancouver attached average -5% -Greater Vancouver apartments average -5% Category 3: Regional SFD MLS-HPI, percent change from December 2012 -3% – Burnaby South SFD -3% – Coquitlam SFD -1% – North Van SFD -3% – New West SFD -1% – West Van SFD -4% – Van East SFD -6% – Van West SFD -4% – Richmond SFD -4% DEC 2013 Category 1: Aggregate, percent change from December 2012 -8% -Greater Vancouver Composite MLS-HPI -7% -Greater Vancouver SFD MLS-HPI -4% -Greater Vancouver… Read more »
pricedoutfornow
Guest
pricedoutfornow

@Harry Wang

This is what I was thinking yesterday as I walked home in torrential downpour. Best place on earth, my ass! Face it, the weather here sucks, January is the worst month (this as someone who has walked to work for 10 years, believe me, it’s not pretty).

YLTNboomerang
Member
This is the value Realtors(R) bring to the table…the North Shore Real Estate Market Update (from a friends Realtor(R) husband): Happy New Year to all my valued clients, friends and family. I hope you had a great holiday season, and I wish all the best this year. May it be your healthiest, happiest and most memorable year ever. The year finished on a down note for real estate in the Lower Mainland, as residential sales were down 22.7% from 2011, and were 25% below the 10 year average for home sales. Moreover, residential listings for the year were 6.1% above the 10 year average. The high number of listings and lower number of sales has resulted in a market that has swung completely in favour of buyers. Prices have held somewhat firm for the time being, but this may be… Read more »
Bag it and tag it
Guest
Bag it and tag it

16 YLTNboomerang
Classic! I like how he says prices have held firm, then goes on to say that downward pressure on prices is luring in first-time buyers.

patriotz
Member

Oxymoron. Downward pressure on prices is a result of a lack of first time buyers.

Makaya
Member
Makaya

It’s not just in Canada that Realtors are getting hungry, in France too!

One of the Re/Max equivalent, Orpi, is just starting a campaign among its clients to, get that, decrease their asking price!

Here is the google translated version of the article.

And yesterday, it was another realtor network (FNAIM) that publicly announced massive layoffs:
– 10,000 realtors, out of 80,000 laid off
– 3,000 offices, out of 30,000 closed.

The reason? Transactions decreased by 18.6% in 2012 compared to 2011 (while prices went up by 0.8%)…

The CEO of FNAIM declared: “It’s a brutal decrease, more brutal than the one that followed the subprime crisis”. But everybody should relax because (in his words): “we were not in a speculative bubble and prices won’t collapse”. Yeah, sure…

G
Guest
G
AlmostPerfect
Guest
AlmostPerfect
Anonymous
Guest
Anonymous

…This is what I was thinking yesterday as I walked home in torrential downpour. Best place on earth, my ass! Face it, the weather here sucks, January is the worst month (this as someone who has walked to work for 10 years, believe me, it’s not pretty)….

The best thing about living in Vancouver is all the money you save by not needing sunscreen.

Vote Down The Facts
Guest
Vote Down The Facts

#23, the only thing that really sucks about Vancouver is all the people whining about the weather. We can have a dry spell that lasts a few weeks, but on the first wet day after that everybody has a “Won’t this rain ever stop?” attitude. It’s really quite silly. Nowhere is perfect, but the weather is something that’s somewhat it your control. If it’s raining, take an umbrella – problem solved.

Perhaps you’d prefer to be in Sydney, where temperatures are close to 40C this week. Or maybe in the UK, which just had the wettest year on record?

Best place on meth
Member
Active Member
Best place on meth

“We can have a dry spell that lasts a few weeks”

Yes, but not all of us are in town during August to witness it.

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