Spring has lost it’s sproing

Normally spring is a busy time in the real estate market.

Sales rise, prices rise.

That’s normal.

What isn’t normal is when usually optimistic Real Estate organizations and banks start predicting falling prices.

Down is the new normal.

Central 1 Credit union economist Bryan Yu says last year hit a 12 year low in sales and the coming year is predicted to be bad with continuing drops in both sales and prices:

He expects resales will fall another four per cent this year to 31,500 while the median price, the midpoint between highest and lowest, will slide six per cent to $474,000.

Yu says “subdued immigration, stagnant employment growth and the most recent round of mortgage insurance rule tightening will weigh on purchasing… biting particularly hard in high-priced Greater Vancouver.”

Full article at News 1130.

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jesse
Member

*its

VCI Admin
Admin

AAAaaaaararrrrrrrrrgggggggg!

VCI Admin
Admin

This thread is severely lacking in the April Fools department unless you’re really excited by typos. 😀

Amanda Li
Guest
Amanda Li

@ Yallie from March 26

Yalie Says:
March 26th, 2013 at 4:34 pm 91
Paul B is probably ripping off sellers just like other Realtors

You obviously haven’t been paying attention. Most of the vitriol directed towards realtors around here is due to the fact that they intentionally mislead and withold critical information from prospective buyers.

Drivel from a Typical Real Estate Advisor

http://www.facebook.com/pages/Paul-Boenisch-Real-Estate-Advisor/168140046580966

Amanda Li
Guest
Amanda Li
jesse
Member
Makaya
Member
Makaya

Here is an april’s fool joke…

http://www.theglobeandmail.com/globe-investor/investor-community/trading-shots/housing-bears-need-to-relax-and-take-the-long-view/article10488136/

According to Larry MacDonald, the bears have a “recency bias” and the market is totally fine… And we need to chill out!

real_professional
Member

I bought a house over the weekend guys!

After careful analysis I realized that Vancouver is just going to be influenced by an increasing volume of capital flows from Asian investors. My only hope of owning was to jump in now. I paid close to assessment (10% more).

I am confident that prices should at worst stabilize and then renew their resurgence. Thanks for sharing Makaya, I have to agree with Larry MacDonald on this one.

Groundhog
Guest
Groundhog

Was MC2 one of the developments that supposedly sold out quickly last year? Banner ad on the Province website is advertising only 48 remaining

Anonymous
Guest
Anonymous

Makaya #7:

That really does read like an April Fool’s joke…. 🙂

JD
Member
JD

@real-proffessional
Your April fools got me, I down voted you!
Well done.

Anonymous
Guest
Anonymous
Joe Mainlander
Guest
Joe Mainlander

@ Groundhog re: MC2.

Nah, back in November Rennie was saying they sold 347 of the project’s 443 at MC2.

http://www.theglobeandmail.com/life/home-and-garden/real-estate/slow-market-but-some-vancouver-condo-projects-still-selling-quickly/article5417301/

It was Marine Gateway that was touted as sold out.

Yalie
Guest
Yalie

Wow, an MSM house pumper accusing bears of “recency bias”. Just wow.

This goes way beyond an April Fool’s joke or pot-calling-kettle-black territory and straight into the bizarro world of Orwellian doublespeak. Night is day! War is peace! Love is hate!

Larry McDonald has officially jumped the shark when it comes to MSM coverage of real estate. There is no point debating them any more since they have completely abandoned all reasonable discourse on the matter, having realized they can basically say whatever they want without consideration of facts or logic.

jesse
Member

real_professional, hahahaha congratulations on becoming a greater fool.

real_professional
Member

Am I a really a greater fool or are all of you? I am simply bowing down to my Asian Millionaire and Baby Booming overlords!

Resistance is futile.

real_professional
Member

And by bowing down I mean bending over.

Anonymous
Guest
Anonymous

breaking news: the bloggers at vreaa and here have admitted their wrongs. they agreed to compensate all the people that have have misled with the information, at the rate of 5% down payment the properties of your choice.
for more information, please visit http://www.vancouverhaters.com
Happy April 1, everyone.

asalvari1
Guest
asalvari1

I agree with real_professional totally. While I did narrowed down the section this weekend, I was not able to complete the transaction over the weekend, because when I heard the price, I told them I will come back to discuss prices Monday (today).

Seemed to be right topic for the date…

Makaya
Member
Makaya
Keeping them honest… Here is a message left by “Bo Xilai” on whisperer’s blog this morning: Bo XilaiApril 1, 2013 at 8:04 AM I sent the editor of the National Post the following e-mail re: Financial Post Article on Allan Hoegg and the undisclosed relationship with his employer: ———————— I’m writing to you to raise some important issues which were raised by a Vancouver blogger regarding a Financial Post article from last week. Denise Deveau wrote an article about an older Boomer couple which were using their home as a source of capital. It was not disclosed Mr. Allan Hoegg is also employed by the mortgage broker (Mr. Rob Regan-Pollock) interviewed in Ms. Deveau’s article. Ms. Deveau also works as an independent writer for Blue Sky Communications whose expertise is getting clients media attention. I believe there are serious issues… Read more »
HFHC
Guest
HFHC

Damn April 1st. What a wasted day.

real_professional
Member

We made business insider’s list of biggest asset bubbles – although no real analysis was done.

http://www.businessinsider.com/the-biggest-asset-bubbles-2013-4#canadian-housing-15

HFHC
Guest
HFHC

New Listings 11
Back On Market Listings 1
Price Changes 1
Sold Listings 0

AS OF 11:20am

I guess they have the day off

jesse
Member

REBGV estimates for April: ’05-12 average daily inventory growth from end of March to End of April = 0.36%, Average April daily sales = 127, based on this I guess April’13 inventory,sales=16574,2788

Last month I guessed inventory = 16067, actual (REBGV reported) = 15471, average daily sales = 112, actual = 118, so my estimates were too bearish.

jesse
Member

If they aren’t booking sales today that means 21, not 22, working days for April.

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