What’s next for Canadian Real Estate?

Vancouver house prices have been falling for the last year, but they saw a small bump last month.

So have prices hit bottom?

And what about the national market?

For one view on what the future holds you might be interested in checking out the 2013 World MoneyShow Canadian Real Estate presentation happening next week at the Vancouver Convention Centre.

The last time Ben Rabidoux and David LePoidevin put on this show it got a fair amount of favorable feedback from commenters here. If you missed that presentation here’s your chance to catch it again.

The show is free to attend but requires pre-registration. It will be held downtown at the Vancouver Convention Center next Thursday the 18th from 4-5pm.

If you attended the last presentation feel free to leave your feedback and thoughts in the comment area here.

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patriotz
7 years ago

“It would be nice to see banks hit with a 1% tax on ASSETS”

That would result in almost all credit intermediary functions (which is what banks do) leaving the banks and moving to non-banks or intermediaries such as the bond market or offshore entities, because banks would not be able to offer competitive rates to depositors.

There are more sensible ways to make the banks pay more taxes if that is the goal.

patriotz
7 years ago

“Harper just stated that intra-company transfer employees of multinational companies from foreign countries is out of control.”

How could issuance of foreign worker visas be “out of control” when Harper the control freak is in control?

All this has been happening because Harper wanted it to happen.

HappyRenter
HappyRenter
7 years ago

Yes #19 its all clear to me now. “temporary foreign workers, foreign students, illegals” bought houses and condos instead of renting and that’s why rents did not increase in tandem with house and condo prices.

Anonymous
Anonymous
7 years ago

Wow.

Harper just stated that intra-company transfer employees of multinational companies from foreign countries is out of control. 100,000’s of thisusands of these workers with families living in Canada and NOT COUNTED IN CENSUS!!!

Also not counted in census is temporary foreign workers, foreign students, illegals.

Over a million here easily!

Now you know why real estate held up after 2008. And why Calgary inventory is at a record low. Do the Math people.

Vote Down The Facts
Vote Down The Facts
7 years ago

“Apple” is a company, not an industry/sector.

Anonymous
Anonymous
7 years ago

“Interesting to see the bank capital tax returning in the NDP platform.”

Yes what a surprise. The NDP makes four announcements today. All of them planned tax increases as part of their election platform.

HAM Solo
HAM Solo
7 years ago

Interesting to see the bank capital tax returning in the NDP platform. To be honest, I am not clear how the capital eligible to be taxed is calculated or the actual net change to bank profitability that results. Here’s a link to a story covering. http://www.vancouversun.com/mobile/opinion/editorial/Vaughn+Palmer+Liberals+using+similar+playbooks+when+comes/8231077/story.html I don’t think provincial governments really have much bearing on the banking/housing fiasco in this country. Taxing bank capital probably isn’t going to make much difference, if implemented. On the margin, it may be credit restrictive because banks will want to assign relatively less capital to BC which in theory could esult in fewer mortgages. However, seeing as bank capital is so leveraged, a 3% tax on capital is maybe only a 0.15% tax on assets (such as mortgage loans). So increasing mortgage speads 15 bps would cover the tax. It would be nice… Read more »

UBC in Crisis Mode
UBC in Crisis Mode
7 years ago

I have signed up for Ben’s seminar.

What I learned from last presentation: number one industry in Canada:

Banking (with all the loans!)!

(in US, you have Apple, Google, IBM, GM, Boeing, etc. etc)

real_professional
7 years ago

@ Bull Bull Bull…

I am expecting a huge surge in listings this summer more than seasonal norms. The weak sales so far have resulted in growth of shadow inventory. Sellers can’t sell so they wait and do not relist until strength emerges. This then snuffs out the strength.

I believe this song and dance will play out for a few months now.

After a strong month people will relist, causing a flood of inventory – classic topping action. Courage Begets Weakness; Fear Begets Strength

suomynonA
suomynonA
7 years ago

: Check the posting date, this one was late, it didn’t show up till this afternoon.

mac
mac
7 years ago

Why are there only 11 comments by 8:21 pm? Is it over?

Makaya
Makaya
7 years ago

Total Inventory down 5 from yesterday with such pityful sales and decent listings… Lots of expiry today!

Bull! Bull! Bull!
Bull! Bull! Bull!
7 years ago

Look a low sales day! I bet the bears’ll want to talk stats again 🙂

paulb
7 years ago

New Listings 236
Price Changes 126
Sold Listings 95
TI:16973

http://www.paulboenisch.com

party
party
7 years ago

17k party!

Ulsterman
7 years ago

Sold2Soon:Have prices hit bottom? This has to be a rhetorical question. It must! Sales have fallen, yes. But this puny drop in prices, that some RE boards even have difficulty acknowledging, better not be the bottom I must admit that even reading that prices rose even slightly causes a tightening of fear in my stomach. It’s the fear that SOMEHOW this insane market can defy common sense and in theory, market logic. The logic i’m talking about is the 67k average family income with average LM homes being in excess of ten times that amount. How, how HOW? I’ve miscalculated this market far too long and the palms start to sweat at the thought of the correction not happening for real. Before anyone starts telling me that i don’t NEED to own, please try walking a mile in a man’s… Read more »

Ben Rabidoux
Ben Rabidoux
7 years ago

@VCI Admin Mods Thank you for headlining! Much appreciated. @Makaya The presentation slides were uploaded by someone in attendance. I thought it was on the forum here, but I couldn’t find them. Anyone have the link? The presentation is printed in colour and bound for everyone in attendance. I’ll look into sending the presentation on the the forum mods to post after this next one, just keep in mind it’s a joint presentation and not 100% my material or my call where that goes. I suppose I could send my portion at least. There will be some overlap in this presentation relative to last. If you were at the last one, you’ve already hear the general story. This one will have a lot of updates and discussion of where we stand in the cycle and what may shape up through… Read more »

chilled
chilled
7 years ago

Unless there are plans to put Rabidoux and Turner in a cage fighting ring, I couldn’t see myself going to something that would make me feel “dirty” many months after. Even the *thought* of accidentally bumping into a Realturd makes me want to take a soapy shower!!

Anonymous
Anonymous
7 years ago

so anyone will waste time to listen to the guy that has been wrong for years? i guess this blog’s members will! It’s a no brainer.
Regret didnt buy in the dip 2008? now is your chance…call your local realtor now or hide in your mama’s basement forever!

Sold2Soon
Sold2Soon
7 years ago

Have prices hit bottom?
This has to be a rhetorical question. It must! Sales have fallen, yes. But this puny drop in prices, that some RE boards even have difficulty acknowledging, better not be the bottom!

Clockbike
Clockbike
7 years ago

If you missed the last presentation:
http://www.youtube.com/watch?v=pagbjwKJyV4

Makaya
Makaya
7 years ago

“If you attended the last presentation feel free to leave your feedback and thoughts in the comment area here.”

Nope, but we’re still waiting for Ben to share his slides with the VCI community… It’s not like we didn’t ask for them 🙂