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rp1
Guest
rp1
3 years 6 months ago

Please don’t give them any more ideas. We should have all learned that sarcasm is only one step away from being reality. I don’t read The Onion anymore. It’s just too painful to contemplate.

patriotz
Member
3 years 6 months ago

He’s baaack…
Former Vancouver mayor Sam Sullivan back in politics with B.C Liberal nomination

“Not one taxpayer has paid one dollar for the Olympic village,” he said. “And they never will.”

http://www.nytimes.com/2010/01/31/sports/olympics/31sullivan.html?pagewanted=all&_r=0

patriotz
Member
3 years 6 months ago

Should you postpone buying a house?

Larry moves further into fantasy writing. As usual, the comments are the best part.

Anonymous
Guest
Anonymous
3 years 6 months ago

My home is worth $1000 more this Saturday than it was last Monday.

At this rate, it will be worth $104,000 more in 24 months.

Don’t you just love bear logic?…working against them. Lol

Woosh
Guest
Woosh
3 years 6 months ago

Anon5: uh that’s not bear logic is it? It’s bull logic.

You’re not the sharpest bulb in the sea are you?

Rob
Guest
Rob
3 years 6 months ago

I wonder if Rennie has been by the show room yet. It’s difficult to think of someone more interested in art and real estate than he.

Democrass
Guest
Democrass
3 years 6 months ago
Just want to remind everyone that The Governor of the Bank of Canada said that real estate prices will fall for the next couple of years. I know all you realtors will say and do anything to make a sale, even bring out fake buyers to fraud the TV audience into buying a house. But why would anyone in their right mind buy in the next two years? Do yourselves and everyone else a favour – go backpaking around Europe and Asia for a couple of years and then come back and sell me a house when prices are down… Read more »
Short'em High
Guest
Short'em High
3 years 6 months ago

@G&M Larry Macdonald “Not Postponing”

E I E I, oh!!!!

From the comments:

only buy what you can afford to lose

…then have a guaranteed loss equal to the entire mortgage because there is no way to limit risk to just the downpayment when your property goes no-bid and your no-talent overpaid ass is thrown out of the “shovel ready” make-work job that was only possible because of central bank money printing.

Patiently Waiting
Member
Patiently Waiting
3 years 6 months ago

It begins…

http://www.nsnews.com/news/Blaze+leaves+home+ruin/7989638/story.html

West Van view home gutted by fire. Nobody was home. Was it occupied at all?

patriotz
Member
3 years 6 months ago

The loonie’s sinking like a stone. Here’s why

If investors stop seeing CAD fixed income as safe, what happens?

Many Franks
Guest
Many Franks
3 years 6 months ago
CIBC is claiming that Canadians have suddenly discovered prudence — it was there behind the couch the whole time: “I think that this report is showing that Canadians are starting to show some…financial maturity,” Mr. Tal said. “They have no motivation to reduce credit. They are not losing their jobs, interest rates have not risen. They can continue to borrow and they are not,” he said. There is no justification for that string of inventions.The only numbers he quotes are: In November of last year, consumer credit outstanding rose by only 2.7% on a year-over-year basis, the slowest pace since… Read more »
/dev/null
Member
/dev/null
3 years 6 months ago

@Patiently Waiting: was the house for sale? There are a few listed properties right at that spot I think. There was also a suite for rent nearby (http://vancouver.en.craigslist.ca/nvn/apa/3610786523.html). Wonder if it’s the same place.

Short'em High
Guest
Short'em High
3 years 6 months ago
…investors stop seeing CAD fixed income as safe, what happens? Ummm…, they keep buying fixed income and yield stocks on the dip until they suddenly gap down and totally wipe out their accounts? Personally, I wish there was less talk about this particular trade that I piled into a few weeks ago. 2 cents on $2M is only $40K so far. Ideally, those that are funding my gain will be notified only after 10-15 cents of CAD decline AND exactly at the moment when the mainstream media informs them that their house was actually worth significantly less than they paid… Read more »
painted turtle
Guest
painted turtle
3 years 6 months ago

MLS® V985387
758 31st av E
Jan 12/13 $889,000
Sold Feb 6 $795,000

They say what happens during Chinese New Year defines the trend for the next 12 months…

VMD
Member
3 years 6 months ago

Rona to cut 200 full-time administration jobs as Q4 results underwhelm

“”We are facing short-term headwinds in our industry with key indicators trending downward but the fundamentals of the renovation and construction industry remain robust,” Boies said.”

– short-term… right..

Groundhog
Guest
Groundhog
3 years 6 months ago

@VMD

Rona, Best Buy…. Is the downturn nearing the vicious circle phase?

spit
Guest
spit
3 years 6 months ago

MLS® V985387
758 31st av E
Jan 12/13 $889,000
Sold Feb 6 $795,000

They say what happens during Chinese New Year defines the trend for the next 12 months…

————————-

Over 10% off of list price. I like that trend!

spit
Guest
spit
3 years 6 months ago

“Rona, Best Buy…. Is the downturn nearing the vicious circle phase?”

It wasn’t really difficult to see the massive overbuilding in commercial real estate.

Maybe we’ll see less cars on the road. The commute yesterday was brutal!

Short'em High
Guest
Short'em High
3 years 6 months ago

…Rona, Best Buy… vicious circle…

NO, NO, NO! What he said. More of that: Short-term, don’t worry, it always comes back… etc.

You guys, for shame! Stop spooking the herd before they are coralled at the slaughter chute!

Wait at least until I’ve doubled the $50K I allocated to finance my $2M short CAD position. You’d think people would wait to talk about it until at least a 4 cent drop where it went a few months ago.

b5baxter
Member
3 years 6 months ago

Inventory is now at the highest point it has been in the last 8 years for this time of year.

http://vancouverpeak.com/Thread-Inventory-Graphs?pid=503#pid503

Over the last 30 days the average daily increase was:
59
At this rate we would reach 16,000 in 11 days (Mar-04-13)
At this rate we would reach 20,000 in 79 days (May-10-13)
and 25,000 by August 3rd.
Thanks PaulB for the numbers!

oneangryslav2
Guest
oneangryslav2
3 years 6 months ago

“In view of their overall financial discipline recently, at least according to this report, maybe the country’s economic kingpins won’t begrudge Canadians a shiny new car.

There is just so much fail here that it’s hard to know where to begin. This should be the epigraph to a book written about the era of Canadian (and global) political economy.

Short'em High
Guest
Short'em High
3 years 6 months ago
Consumer discretionary firms went first. Canadian Tire Reports Increased Revenue Canadian Tire Corp. Ltd. (TSX:CTC) has reported a small increase in fourth-quarter revenue, but also an almost two per cent drop in net profit in the final three months of the year. Forget that last part about the net profit trend. It is obviously a misprint by a drunk reporter. Just remember the first part about higher revenues and buy buy buy! Bank stocks should be good too. They’re all good. Any negative stuff is just put there to confuse investors. Buy a second house in Vancouver and then use… Read more »
Bull! Bull! Bull!
Guest
Bull! Bull! Bull!
3 years 6 months ago

b5baxter, you are on my nice poster list.

VMD
Member
3 years 6 months ago

Just found this nice data depot at UBC Sauder School of Business website

(including up-to-date nominal vs real house prices by city up to 2012)

http://www.sauder.ubc.ca/Faculty/Research_Centres/Centre_for_Urban_Economics_and_Real_Estate/Canadian_Cities_Housing_and_Real_Estate_Data

real_professional
Member
3 years 6 months ago

Great chart – I see inventory peaking at 21K easy

Yes @VMD – that data source was especially great when CANSIM wasn’t free. It is still good since everything is cleaned and put together neatly. Some of the underlying data elements are more frequent than reported by the UBC tables however.

patriotz
Member
3 years 6 months ago
VMD
Member
3 years 6 months ago

@real_professional
agreed. I came across that graph database while searching for the old “real vs nominal Van home price graph”. Last time I saw it it was only up to 2007, now they have extended the graph to cover up to 2012.

Speaking of graphs, can anyone recommend a good graphing/spreadsheet software other than google & excel? (with good customization options for graphs) thx!

space889
Member
space889
3 years 6 months ago
I don’t get it, how does this lower cost of RE? It’s not like you can actually live in 100 cubic sq ft or 1/5 of a condo? What if someone bought all the cubes for the bathroom in the condo while you bought the rest and wouldn’t let you use the bathrooms without paying a huge fee? How is that going to work? Or will the developer hold the cubes you can’t afford and you have to buy it from them 1 cube at a time using new mortgage while paying a rental fee? How will mortgage work when… Read more »
Short'em High
Guest
Short'em High
3 years 6 months ago

@VMD Graph/Plot Software:

http://www.gnuplot.info/

http://www.r-project.org/

@spaced889:

Try the graphic on the artist’s site for more clues…

http://221a.ca/wp-content/uploads/2013/01/henry-george-fay-lewis.png

paulb
Member
3 years 6 months ago

New Listings 217
Price Changes 77
Sold Listings 70
TI:15451

http://www.paulboenisch.com

Chabar
Member
Chabar
3 years 6 months ago

Just a year ago this Hollywood home had the same price as this Kerrisdale home

addair
Guest
addair
3 years 6 months ago

70 listings?
Looks like the big buying rush didn’t last more than a week.

ReadyToPop
Guest
ReadyToPop
3 years 6 months ago

Mr. Carney could face a decision many Canadians have in light of tougher borrowing conditions — namely is it better to rent or buy based on the current market.

Mark Carney’s $400K yearly housing allowance might not go very far in London

VHB
Member
VHB
3 years 6 months ago
Total days	19
Days elapsed so far	14
Weekends / holidays	7
Days missing	0
Days remaining	5
7 Day Moving Average: Sales	96
7 Day Moving Average: Listings	244
SALES	
Sales so far	1330
Projection for rest of month (using 7day MA)	482
Projected month end total	1812
NEW LISTINGS	
Listings so far	3760
Projection for rest of month (using 7day MA)	1221
Projected month end total	4981
Sell-list so far	35.4%
Projected month-end sell-list	36.4%
MONTHS OF INVENTORY	
Inventory as of Feb 21st, 2013	15451
MoI at this sales pace	8.53
Aleksey
Guest
Aleksey
3 years 6 months ago

Predicting 16K party this month!

Don't make eye contact
Guest
Don't make eye contact
3 years 6 months ago

“Looks like the big buying rush didn’t last more than a week.”

Yes. And it was a very small buying rush.

Guy Smiley
Member
Guy Smiley
3 years 6 months ago

@b5baxter…

Inventory is now at the highest point it has been in the last 8 years for this time of year.

Would that also make it the highest point it has been for this time of year in the last 1000 years?

Short'em High
Guest
Short'em High
3 years 6 months ago

Another reason not to overpay. eg: Figure out the rent value bid and then knock off another 1-2% for every year since completion.

CBC: Buyers left with big bills when home inspectors miss defects

Comments section has the horror stories and why home inspectors aren’t really qualifed to provide a sound opinion on every property.

Short'em High
Guest
Short'em High
3 years 6 months ago

@VMD …recommend a good graphing/spreadsheet software…

http://gnuplot.info/

VMD
Member
3 years 6 months ago

New listings per day:
Feb 2013: 269 (+15% MoM)(+2% YoY)
Jan 2013: 233 (-15% YoY)

Feb 2012: 264 (-4% MoM)
Jan 2012: 274

We went from last month’s poor new listings (-15% YoY) to this month’s nice reversal @ +15% MoM & +2% YoY.

Almost looks like people were holding out until Chinese New Year to list their houses…

Anonymous
Guest
Anonymous
3 years 6 months ago
Short’em High Says: “Comments section has the horror stories and why home inspectors aren’t really qualifed to provide a sound opinion on every property.” What did this lady think she was getting when she bought the POS house? You can tell by looking at it that it is a POS before stepping inside. I also don’t get how people think a $500 inspection will detect every problem with a old house and they should have some recourse where the inspector should pay for any defects they do not document. On a house like that you could spend 2 days finding… Read more »
Short'em High
Guest
Short'em High
3 years 6 months ago

@VMD: Did they wait for CNY to list?

According to Wikipedia, CNY’s last day (15 days) of festivities this year is Feb 25, next week.

http://en.wikipedia.org/wiki/Chinese_New_Year

It would be interesting to know exactly what memo, cattle prod voltage, or event caused these ones to wake up and list. Two more possibilities: Teranet released a very negative headline and the dollar depreciated considerably.

Anonymous
Guest
Anonymous
3 years 6 months ago

‘Senior manager resigns after real estate company employees caught posing as customers for TV’

Looks like someone from MAC was sacrificed * forced resigned * to save their public image …

http://www.theprovince.com/business/Senior+manager+resigns+after+real+estate+company+employees+caught+posing+customers/7999235/story.html#ixzz2LaoKaTab

Short'em High
Guest
Short'em High
3 years 6 months ago
@Anon#42 …all houses in the 750K range in Vancouver are basically tare downs… Does anyone have an opinion on the accuracy of the assessed building value? Given present inflated contruction costs, are the assessed building values too high? It would be interesting to model the cost of replacing the building when calculating the risk free rent equivalent price of the total property. A rental doesn’t have the risk of deficiencies, so subtracting the cost of contructing a new minimal building on the property could be used to model a risk free price rather than the off the cuff percent per… Read more »
AlanL
Guest
AlanL
3 years 6 months ago

‘Senior manager resigns after real estate company employees caught posing as customers for TV’

The manager probably enjoying EI now and waiting for a higher position when the issue cool down…

b5baxter
Member
3 years 6 months ago

@Guy Smiley

It may have been higher in 1998. I don’t have the data for that year (but I think someone else here might have it).

Also maybe 1792….

Anonymous
Guest
Anonymous
3 years 6 months ago

In the last 7 days:

You: keep posting about a so called crash.

Reality: 1000 people have permanently moved into Metro Vancouver.

Result: nit-pick stats harder to make your arguments ‘valid’. Keep posting bears!

Oh, another 1000 in the next 7 days. REMEMBER THAT!!!

Boombust
Guest
Boombust
3 years 6 months ago

Aw, shut up.

So pathetic.

Boombust
Guest
Boombust
3 years 6 months ago

CHIPMAN.

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