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” with a hint of record low mortgage rates thrown in ”

Those record low mort rates could soon be toast…according to stock markets the last few days. Haven’t heard that much rate fear from the financial media in years.
Will probably be a slow upward move to suck in a few more home buyers. Too bad, I’d rather see a big rate spike to squeeze some of those obnoxious bulls who are in debt up to their nuts.

Poor woman

This is what happens when RE becomes crazy in a city.

http://ca.finance.yahoo.com/video/police-warning-rental-scam-024000028.html?vp=1

Lets hope they nail the bastard.

‘Can you imagine something so ridiculous happening in real life??’

Remind anyone else of a 1929 jumper yelling it’s going to recover all while accelerating at 9.8 m/s^2?

Here’s a chart that matters http://i.cubeupload.com/RRSsTF.png

Hence the right chart showing a spread between Landcor and REBGV sales indicating that presales and whatever else is considered a residential sale has been on a continuous decline since 2006.

What’s that saying again? If you build it, they will come.

If someone made a website about how the housing market was going to crash and people came on that site, for 8 years, and talked about how the crash was just around the corner and it never happened?

For 8 long years?

Can you imagine something so ridiculous happening in real life??

” Cities that really want others to think their humble little burgs are really happening should say: they’re ‘Vancouver Class’”

Kind of like when ‘Whistler Style’ homes were all the rage everywhere (except in Whistler). ‘Whistler Style’ home – a home that’s overtaxed, unoccupied for 9 months of the year and occupied by drunken, stoned Aussie lifties for the other three months, all while the value is dropping like the Hindenburg on May 6th, 1937.

So many cities are now using the ‘World Class’ moniker to describe particular attributes or initiatives related to their cities. It’s only a matter of time before the expression gets a bit passe. Cities that really want others to think their humble little burgs are really happening should say: they’re ‘Vancouver Class’.

One month not a trend make!

Here is a quote from that article:

Home prices in Toronto, Canada’s most-populous city, rose 5.4% in May from a year ago, the biggest increase in five months, the Toronto Real Estate Board reported Wednesday.

5.4% YOY price increase is a hot market. I wonder if they will bring in another round of mortgage credit tightening. The measures so far have not cooled the market for SFH in Toronto. As this quote demonstrates, maybe F needs to do more:

The impact of Flaherty’s policy changes are beginning to fade, Toronto Real Estate Board President Ann Hannah said in Wednesday’s release.

“A growing number of households who put their decision to purchase on hold as a result of stricter lending guidelines are starting to become active again in the ownership market,” Hannah said.

Evidence mounts of a soft landing in Canada’s real estate market.
Is the media making too much out of typical spring real estate seasonality?

http://business.financialpost.com/2013/06/05/evidence-mounts-of-soft-landing-for-canada-housing-market/?__lsa=b5f9-65a5

Guess Flaherty got a pre-print, and Kinsley isn’t able to fix it:

OECD reported in CBC Business news:
“Canadian homes among most overvalued in the world –
OECD report ranks Canadian real estate 3rd-most overvalued among developed countries”

CBC story here.

To quote Winston Churchill:
We will beat them in POCO, We will beat them in Burnaby. We will beat them in Surrey.
And then we will fight them house to house in Vancouver and Richmond.

Vangirl,
Parts of Vancouver are becoming 3rd World country Shanty Towns.
I guess house is full of temporary foreign workers, which can be easily exploited.

Sales up in Vancouver West and Richmond.
Does this mean HAM is back?