Why a soft landing would be bad for the economy.

Ben Rabidoux has an article in the Globe and Mail about ‘soft landing’  in the real estate market.

Check out the full article here.

His points mostly come down to this question:

If the housing economy decreases,  what will happen to all those jobs provided by building,  selling and furnishing homes?

.

My crystal ball works no better than anyone else’s; I have no idea where house prices will be in the future. But I am deeply concerned with the clear imbalances that this current boom has created. And that raises an important question: If we are indeed headed for a soft landing, and if the economy and labour market is negatively affected by a soft landing in housing as I believe the data suggest, will it remain a soft landing?

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Moivng to the States
Guest
Moivng to the States

It would be nice if someone can submit a press release with the Mac Marketing story
http://whispersfromtheedgeoftherainforest.blogspot.ca/2013/02/media-manipulation-you-decide.html

Waiting to exhale
Guest
Waiting to exhale
I have been following the MAC marketing solutions story the past couple of days without having a chance to see the actual video “news” reports. When I saw the CTV version I almost fell out of my couch. I know Amanda Lee. More accurately I knew her from about 8 years ago. She is from Taiwan not China!!! The CTV story clearly stated that Chris Lee was waiting for her parents from China and that she came to Canada two years ago. Based on her accent I do believe Chris is from China but not Amanda. The BS in this fiasco is getting better and better. I doubt they are actually sisters. On the other hand, I guess they could be sisters from a different mother/father. But I highly doubt it. But honestly, how hard is it to find a… Read more »
JD
Member
JD

The Chinese have gotten wind of the overpriced real estate, relative to rent. You don’t have to understand any Chinese to understand the graphic on this page:
http://house.ifeng.com/news/detail_2013_02/13/22127448_0.shtml
If you do read Chinese, (or use a robo-translator) then things don’t sound so great here. Maybe Amanda Lee’s parents read this and decided not to buy here…

Short'em High
Guest
Short'em High

@wowsers Says:
…wait til CNY 2015 and they will still not be sold out even after 30% price cuts

30% will sell a few this year. By 2015, try 70% price cut to sell a few.

Groundhog
Guest
Groundhog

Dont you guys know in the long run housing is always a good investment, errr

http://www.zerohedge.com/news/2013-02-13/home-prices-are-back-1894s-levels

wowsers
Guest
wowsers

I guarantee that Maddox sold no condos over CNY, its like a ghost town those sales centers. None zero ziltch thats why these creeps are desperate enuf to fabric silly foolish news stories.

absolutely none, they are dreaming!

Just wait til CNY 2015 and they will still not be sold out even after 30% price cuts

vangrl
Member
vangrl

there are some pretty funny comments on mac marketing’s facebook page, folks are starting to comment on all their posts:)

http://www.facebook.com/MacMarketingSolutions?ref=stream

BLISTINGAGENT
Guest
BLISTINGAGENT

“Last year at Maddox we experienced increased sales volume during our Chinese New Year efforts and this year have already sold a number of homes”

How is it possible for a 190 unit condo building to have increased sales volume over CNY for two years in a row? Things must be really dead most of the time.

good-format
Guest
good-format

seach on google, using amanda lee linkedin mac, the first item shows some thing like:

Amanda Lee – Canada | LinkedIn
ca.linkedin.com/pub/amanda-lee/43/27a/81
Vancouver, Canada Area – Administrative Assistant at MAC Marketing Solutions
Amanda Lee. Administrative Assistant at MAC Marketing Solutions. Location … Join LinkedIn and access Amanda Lee’s full profile. As a LinkedIn member, you’ll …

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

lol, i love the bearish comments being left on the facebook. Yeah, that doesn’t make all of you look like a bunch of weirdos. no, not at all 🙂

remember, facebook is for normal people. please don’t scare the children.

Many Franks
Guest
Active Member
Many Franks

Heh, I’ll bet a lot of the regular bears have just outed themselves via Facebook likes and snarky comments. Apparently there’s blood in the water.

Crikey
Guest
Crikey
So MAC Marketing Solutions has admitted on Facebook that, “We do admit we should have been more transparent about the fact that a MAC Marketing Solutions employee was included in this story. We apologize for any misunderstanding that this may have resulted in.” In my opinion, two things now need to happen: (1) Now that MAC has admitted to this, the news stations that covered the story MUST MUST MUST air retraction/correction pieces ON THE AIR. I’m NOT talking some lame Facebook or internet posting, but a piece on the news that explains what happened. If CTV, CBC, etc do NOT each air such a retraction, such lack of action will be indicative of their complicity in the fraud (even if after-the-fact), as well as their contempt for the general public and their viewers. We need to write to the… Read more »
Keeping An Eye On The Pimps
Guest
Keeping An Eye On The Pimps

This is truly insulting to thinking Chinese people.
They too must feel infuriated when stereotyped as they are in the clip.

A bimbo portraying a grown woman, waiting for parents approval to buy a home on a timeline predicated by some superstition.
I would imagine in reality when a business plan is put into place by the Chinese that anymore consideration is given to the Year of the

Snake than Warren Buffet gives to the horoscope.

But of course as with any culture, there will always be plenty of greater fools.

Makaya
Member
Makaya

@Keeping An Eye On The Pimps

And somebody followed up with:

“Last year at Maddox we experienced increased sales volume during our Chinese New Year efforts and this year have already sold a number of homes”
Could you please provide more factual details on that comment? Specifically, I’m interested in knowing how many sales you have closed in the two weeks prior to Chinese New Year, during the two weeks of CNY break and on the two following week, for this year and last year.
Looking at the situation, it seems that a bit of transparency on your part would be most welcomed. Thank you very much.

They are in trouble… lol!

Keeping An Eye On The Pimps
Guest
Keeping An Eye On The Pimps

Did anybody see this on the Facebook page?

“Matthew Black I was the CBC reporter on this story and feel some clarification is in order:

*Can you confirm that Amanda is the employee you refer to in the post above?
*Is Chris Lee (from the TV pieces) actually Amanda Lee’s sister?
*Is Chris Lee a genuine prospective buyer from China, or, is she also a MAC employee?

I trust you still have my contact information…”

https://www.facebook.com/MacMarketingSolutions/posts/539317876088443

Deception
Guest
Deception

So where are the planeloads of Chinese New Year home purchasers? Did they all lose their luggage or something?

VMD
Member

Feb Sales so far (8 business days in):

2013: 674
2012: 876 (-23% YoY)
2011: 1125 (-40% vs Feb/11)

If sales for rest of the month continue to be -23% YoY, then there is a chance we get ~1800 sales (we do have 2 fewer business days this Feb vs last year).

Feb month-end (projected) sales:
2013: 1800
2012: 2545 (-29% YoY)
2011: 3097 (-41% vs Feb/11)

Gokou3
Guest
Gokou3

I suggest everyone goes to mac (false) marketing’s facebook page and ask about amanda lee

Short'em High
Guest
Short'em High

@Best place on meth Says:
…sellers pulling their listings is entirely false.

What would be interesting to know about listings is the breakdown of the beneficial owner’s occupation. In other words, how many realtors are listing their own properties while advising clients to wait for a “better time”.

Mick Murphy
Guest
Mick Murphy

like it or love giving something “likes” on facebook makes it more news worthy, so if you have facebook like this post where someone calls out MAC marketing and they admit they defrauded the public.

https://www.facebook.com/MacMarketingSolutions/posts/539317876088443

VHB
Member
VHB

Here is February 2012:

1-Feb	38	305	12.5%
2-Feb	155	251	61.8%
3-Feb	122	249	49.0%
4-Feb			
5-Feb			
6-Feb	113	325	34.8%
7-Feb	140	281	49.8%
8-Feb	127	265	47.9%
9-Feb	85	229	37.1%
10-Feb	94	234	40.2%
11-Feb			
12-Feb			
13-Feb	133	314	42.4%
14-Feb	147	281	52.3%
15-Feb	112	254	44.1%
16-Feb	110	252	43.7%
17-Feb	148	225	65.8%
18-Feb			
19-Feb			
20-Feb	141	317	44.5%
21-Feb			
22-Feb	135	239	56.5%
23-Feb	108	222	48.6%
24-Feb	112	220	50.9%
25-Feb			
26-Feb			
27-Feb	107	294	36.4%
28-Feb	179	294	60.9%
29-Feb	145	239	60.7%

Here is February 2011:

1-Feb	210	350	60.0%
2-Feb	147	267	55.1%
3-Feb	104	267	39.0%
4-Feb	104	246	42.3%
5-Feb			
6-Feb			
7-Feb	93	283	32.9%
8-Feb	182	227	80.2%
9-Feb	204	326	62.6%
10-Feb	93	282	33.0%
11-Feb	121	281	43.1%
12-Feb			
13-Feb			
14-Feb	198	322	61.5%
15-Feb	153	311	49.2%
16-Feb	219	287	76.3%
17-Feb	166	280	59.3%
18-Feb	116	270	43.0%
19-Feb			
20-Feb			
21-Feb	178	297	59.9%
22-Feb	209	290	72.1%
23-Feb	172	255	67.5%
24-Feb	137	280	48.9%
25-Feb	142	242	58.7%
26-Feb			
27-Feb			
28-Feb	204	305	66.9%
Girlbear
Guest
Girlbear

Thank you VMD and Jesse!

VMD
Member

@Girlbear
Jesse compiles the graphs monthly over at his blog:
Jan 2013 sales graph (with Feb projection) is
Here

Best place on meth
Member
Best place on meth

Feb listings are higher than last year – 288 vs. 266

Sales of course are far lower – 84 vs. 124

Clearly, the bullshit the cartel has been peddling about sellers pulling their listings is entirely false, and another complete lie from the lowlife scum who are running out of places to hide.

Short'em High
Guest
Short'em High

@HAM Solo HCG Quarterly.

Therefore, it will be too late for those who are waiting to see losses exceeding previous guidance in a quarterly report before they sell. To make this trade one must follow the price down, just as it breaks.

BTW, July put options didn’t get any cheaper on the “good news” either. So the those cooked numbers were already priced in.