End of an Era: Ian Watt says no mo’ vidblog

These days everybody and their dog is a realtor and their dogs have video cameras.

And everybody with a dog knows that if you hop in a car they start recording you.

So you might as well video blog right?

So yeah, every realtor video blogs. From their car.

As the guy in the video below points out, there’s even a metablog dedicated to ’em.

But it wasn’t always thus.  One of the original and most prolific Vancouver video bloggers is Ian Watt.

And this, my friends, is where we come to the end of an era. Ian Watt says that’s it for video blogging:

After SEVEN HUNDRED AND SIXTY video blogs Mr Watt is moving on to whatever the next best thing is.

We’ll miss you Ian, keep us updated on your next move, maybe post a video or something?

Sort by:   newest | oldest | most voted
barb rennie
Guest
barb rennie

That was cruel. I just wasted 2.51 mins that I will never get back. It was so mindlessly stupid, that I furrowed my forehead through the 2.51 mins and now have more wrinkles. You should have put a warning on it prior to viewing (like rated R for restricted), but instead rated S for STUPID.

RFM
Guest
RFM

Good riddance.

patriotz
Member

Prognosis grim for Toronto condo investors
Of course, the yield analysis for Vancouver would be even worse.

Interestingly, banks do not charge a premium for an investment-property mortgage (under a puzzling assumption that there is no added default risk to investment properties versus owner-occupied purchases)

But there’s no increased risk to the lender if they are guaranteed to get their money back anyway.

patriotz
Member

B.C. couple revamp lifestyle to start repaying $52,200 debt load
That $52K is just non-mortgage debt:

The 47-year-old small business owner and her husband, who live in Salmon Arm, B.C. with their two sons, also refinanced their home. They bought it in 2001 for $94,000 and now have a mortgage of $217,000.

Mortgage is now more than twice the original purchase price. How many small businesses in BC are being kept afloat this way?

Anonymous
Guest
Anonymous

The business of being Ian Watt.

Snack
Guest
Snack

No matter how you feel about vblogging realtors you gotta give credit to Ian watt for being early and prolific. I did like some of his vids and wish him well. It’s always a bit strange to see someone stop something they’re so known for.

southseacompany
Member
southseacompany

Globe and Mail says: “Canadian housing market defies doomsayers with spring surge”

http://www.theglobeandmail.com/report-on-business/economy/housing/canadian-housing-market-defies-doomsayers-with-spring-surge/article12902062/

“Canadian mortgage rates are rising again and that’s spurring DiManno and others to jump back into the market, cutting short an already brief housing downturn.”

But then the article states the obvious:

“To be sure, some say it is too soon to celebrate the end of the mild downturn, and a spring bounce is not a measure of strength. If buyers want to get into the market before rates rise, won’t that just steal demand from the future?”

"TOO ASIAN" AND PROUD
Guest
"TOO ASIAN" AND PROUD

White People Shouldn’t Expect ALL Immigrants to Speak English in Canada

http://www.tooasian.ca/white-people-shouldnt-expect-all-immigrants-to-english-in-canada

Snack or Smacked?
Guest
Snack or Smacked?
Ian Watt: Do it until it doesn’t work anymore. Guess what. #4 “afloat”: bought it in 2001 for $94,000 and now have a mortgage of $217,000 Isn’t that the definition of doubling down and will F allow them to double down again in hopes their business model isn’t the problem. It’s been said before. The only way to moderate a system like this is to make government backed mortgages of any type non-dischargable in bankruptcy the same as student loans. There is no way CHA securities are going to be curtailed and there is no way to regulate which “winners” the government picks. So those losers need to self select for a lifetime of repayments or to go bust now. If that family faced the choice of going bankrupt now or have to repay the whole amount no matter what,… Read more »
"TOO ASIAN" AND PROUD
Guest
"TOO ASIAN" AND PROUD

Barclays Sees An “Increasingly Likely Scenario” Of A 3% Growth “Hard Landing” In China

http://www.zerohedge.com/news/2013-07-02/barclays-sees-increasingly-likely-scenario-3-growth-hard-landing-china

Anonymous
Guest
Anonymous

….After SEVEN HUNDRED AND SIXTY video blogs Mr Watt is moving on to whatever the next best thing is…..

Hi Ian!:

What’s that?

Oh, yes, I will have fries with that. Thank you?

Anonymous
Guest
Anonymous

Back to facts bears:.

Fall is a little over 2 months away. What happened to the idea that things were going to crash this spring?

Now inventory is going to head lower until the new year. Rates are going to stay put in Canada as they will let the currency absorb the damage. Yields are down today. Dollar is at 94 cents. Soon it will be much lower as bond holders slowly come to the realization that the Canadian gov will protect housing at all costs.

Now tell me where I am wrong ( and leave your emotions out of this)?!

Yalie
Guest
Yalie
Now tell me where I am wrong ( and leave your emotions out of this)?! Sure, I’ll bite. What happened to the idea that things were going to crash this spring? I don’t recall anyone here saying things were going to crash this spring. Anyone paying attention knows that spring is always the high point of the year. But this is still the worst spring in the last 10 years except 2009. Most years prices have gone up around 5-10% in the first half of the year. This year Teranet has us at +0.59% YTD which is a terrible spring. Now inventory is going to head lower until the new year. It is? Most years inventory goes flat over the summer, then sees a bit of a bump up in the early fall before dropping sharply in November/December. And while… Read more »
N
Guest
N
Democrass
Guest
Democrass

Here is Garth Turner’s advise today to one of his readers:

Third, get the hell out of Vancouver. As cool a place at it is to hang out, it takes at least 50% more money to live there as anywhere else in the country, with a decelerating economy and a real estate market in danger of imploding. You may not own a home, but the up-to 40% correction the next few years will bring to BC housing could hollow out the local economy for a decade or more. Just imagine what that’ll do to post-secondary school funding

http://www.greaterfool.ca

Yellow Helicopter
Guest
Yellow Helicopter

Globe and Mail: Prognosis grim for Toronto Condo Investors:

‘Warren Buffett is fond of saying that “you never know who is swimming naked until the tide goes out.” Well, when interest rates start to climb, Toronto’s condominium investors may be about to get a lesson in the perils of swimming in the buff.’

http://www.theglobeandmail.com/report-on-business/economy/economy-lab/prognosis-grim-for-toronto-condo-investors/article12911613/

Biohazardous
Guest

This was a waste of a video!

George
Guest
George

Two Surrey residents have been charged by the RCMP in an alleged plot to bomb the BC Legislature in Victoria on Canada Day! The pair had made improvised explosive devices similar to those used in the Boston Marathon bombing. The pair were inspired by Al Quaeda! This quote from CBC almost makes it sound like they actually planted the devices at the Legislature before being arrested, although I am not sure if it sloppy writing from CBC:

“They were arrested Monday and are accused of building explosive devices with the “purpose of causing death or serious bodily injuries,” which were placed outside the B.C. legislature in Victoria on Canada Day.”

http://www.cbc.ca/news/canada/british-columbia/story/2013/07/02/bc-rcmp-terrorism.html

@ Yalie
Guest
@ Yalie
>LOL – I tried to keep my emotions out of it until this one. You are a fecking moron if you believe this. Even if they wanted to, they’ve already blown their wad in 2008 when interest rates dropped to near zero. News flash: they can’t get much lower than they are now. Finally, neither the BoC nor the Canadian government control our interest rates, the US Fed does. And they have indicated that QE is over. LOL – They can simply roll back the mortgage restrictions the brought in and go back to 40 year amortizations with zero down. Do you think they are going to let the country crash and burn? They faced an economic threat in 2008 and decided to address it by pumping housing. What makes you think they won’t do it again? When the short… Read more »
patriotz
Member

“The only way to moderate a system like this is to make government backed mortgages of any type non-dischargable in bankruptcy the same as student loans.”

Dead wrong and I’ve already given you a counter example – Spain.

The obvious solution is simply get rid of government backing of mortgages and let the market curtain excessive lending.

mac
Member
mac

The placement of his photo with respect to the play button makes him look like Hitler. Very amateur. Maybe now we won’t have to hear about these “celebrity” Vancouver agents anymore.

Dr. VanBear
Guest
Dr. VanBear

Ian Watt is a real estate agent! that makes him my sworn enemy! Grrr! Feel the wrath of my scathing attacks Ian! Tremble at my anonymous personal attacks! Grrr! Grrr!

Yalie
Guest
Yalie
LOL – They can simply roll back the mortgage restrictions the brought in and go back to 40 year amortizations with zero down. They simply will not do this. They already made themselves look like idiots for moving from 25 to 40 and back to 25 year mortgages in the span of 7 years. They won’t do it again. Do you think they are going to let the country crash and burn? They faced an economic threat in 2008 and decided to address it by pumping housing. What makes you think they won’t do it again? When the short term is economic ruin, you don’t even think about the long term. The country is not going to crash and burn, and there will be no sharp dropoff in real estate prices. I have stated my opinion several times that the… Read more »
patriotz
Member

@23
I will just add my view that as a net importer of capital, Canada cannot control its interest rates and will be forced to follow US rates going up. We are already getting a taste of this.

And trying to juice the RE market by reintroducing the crazy policies of the recent past would just spook the bond markets. The Cons might be able to fool the public, but not the markets. They’ve seen too much of this.

I agree that we are likely to see a slower decline than the US. This will actually result in more economic damage than a fast crash, but for the government it’s about kicking the can as far as possible, not doing what’s best for the country.

Kbro
Guest
Kbro

” Now tell me where I am wrong (and leave your emotions out of this)?! ”

Kudos to Yalie for responding so rationally to such a sadly ignorant post.
Just goes to show that unlike equity markets, the housing market is driven by the financially un-sophisticated.

wpDiscuz