FFFA! What’s happening?

It’s that time of the week again!

This is the day, the time, the place, it’s Friday Free For All time!

This is when we do our regular end of the week news round up and open topic discussion thread for the weekend.

-Where are the stories?

Hopefully the lazy admin will add some soon, but in the meanwhile it’s your turn.

What are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

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patriotz
7 years ago

Bubbles Bloom Anew in Desert as Buyers Wager on Las Vegas

The evidence? The article cites one property in each city.

Yes prices in Phoenix and Vegas are up double digits from the bottom. But that was a pretty deep bottom. And:

In Las Vegas more than half of properties with mortgages are underwater, or worth less than the loans against them, according to Zillow Inc., a real estate data firm. In Phoenix, the share is a third. Nationally, about a quarter of mortgages have negative equity.

Which means that the Vegas and Phoenix markets are currently farther below the bubble peak than the national US market on average.

Aggregator
Aggregator
7 years ago

Never thought of this happening, but as the following chart shows, there’s a fairly close short-term correlation between rising bond yields and rising asking prices too. http://i.cubeupload.com/Ni1Aye.png

I need some time to think about this one.

Anonymous1
Anonymous1
7 years ago

Careful with post 110.

Looks like a virus attack so don’t open link.

Looks like the race riots have begun.

Best place on meth
Best place on meth
7 years ago

“Anybody know what’s up with the gongshow on “realestatetalks”?

I only check it about once every couple of months or so and it looks like some jerk is pumping out hundreds of garbage posts a day…how is that possible?”

Looks like Horton’s back with a new ID. No wonder there are only 5 people still posting there.

aznPride
aznPride
7 years ago

yo, stop with the racist shit, or i’m going to fuck all of u up!

http://theprivateman.files.wordpress.com/2011/06/canadianasianhipsterhockeynerdrage.jpg

Waiting to exhale
Waiting to exhale
7 years ago

I am not picking on anybody. I am just sick and tired of sifting through the racist and other BS while I am trying to read this blog.

Son of Ponzi
Son of Ponzi
7 years ago

# 103
Now Carney is pushing his “escape velocity” BS in the UK.
“God save the Queen” from this Financial Superstar.

Naked Official #9000
Naked Official #9000
7 years ago
Skook
Skook
7 years ago

For anyone following the Sunshine Coast in the VanPeak forum, I have just posted the past week’s sales for Gibsons, Roberts Creek and Sechelt. All three areas combined had only 6 SDH sales. August is starting to stink.

http://vancouverpeak.com/Thread-SC-Listings-Sales-2011-2013?pid=4922&mode=threaded

As for $1mill+ sales – bahahaha

Son of Ponzi
Son of Ponzi
7 years ago

Waiting to Exhale.
Why pick on me?
BPOM get’s much more up-votes then I.

Waiting to exhale
Waiting to exhale
7 years ago

@ Son of Ponzi #102

I go to that Mcdonalds quite frequently and I call BS on your post. Quit posting your racist comments in a real estate blog; I am sure there are other avenues for you to do so. BTW, what are you doing in Richmond anyways if you dislike what you see so much that you have to vent your anger on a real estate blog?

I bet you are just dense.

vancouverguy
vancouverguy
7 years ago

“In physics, what goes up doesn’t have to go down. Look up “escape velocity”.

No such thing in finance though!”

Achieving “escape velocity” to get out of the global housing bubble is explicitly what the central bankers have been trying to achieve. But will they succeed?

http://www.theguardian.com/politics/2013/jul/02/escape-velocity-mark-carney-macro-economic

Son of Ponzi
Son of Ponzi
7 years ago

The McDonalds in question is the first McDonalds store to open in Canada about 50 years ago.
I think it will be the first to close.
Most of the customers are elderly Chinese who order one coffee and then get free refills.
It’s their regular meting place.
They also get complementary copies of Chinese newspapers.

franko
franko
7 years ago

Anybody know what’s up with the gongshow on “realestatetalks”?

I only check it about once every couple of months or so and it looks like some jerk is pumping out hundreds of garbage posts a day…how is that possible?

Best place on meth
Best place on meth
7 years ago

Jesus Christ.

That stupid cow has been in Canada for 10 years and still can’t speak enough English to order a coffee?

What a disgrace. What an arrogant, lazy, belligerent piece of crap. We need to make language skills a pre-requisite for new immigrants – especially those from the PRC, and keep out this kind of riff-raff.

Son of Ponzi
Son of Ponzi
7 years ago

I’ve been keeping track of the following listing, simply because I thought the asking price was insane:
V1017906
14-4388 Bayview St, Richmond.
Listed for 1,295,000 assessed at 933,000.
And it’s just a friking Townhome.
It seems to have been sold.
Anyone know the sale price?
Thanks

Harry Wang
Harry Wang
7 years ago

Just because red carpet wasn’t rolled out, don’t call it discrimination http://www.sunnewsnetwork.ca/sunnews/straighttalk/archives/2013/08/20130824-072346.html#.Uhi_KAm-jp4.facebook Canadians routinely bend over backwards to people who are new to or rough with English. It’s simply unfair to cry “discrimination” when just once things don’t turn out perfectly. Hai Xia Sun is doing just that after her experience at a Richmond, B.C., McDonald’s. Sun didn’t get what she ordered. She wanted to correct the mistake but says the manager sent her away saying, “You don’t understand English … The line is long. I want to serve other people.” Sun has the Chinese Canadian National Council on her team now — their executive director labelling the experience “unacceptable.” Now Sun doesn’t just want a simple apology. She wants a written one from the franchise owner, the manager and she wants it made out to all Canadians who aren’t… Read more »

An Observer
An Observer
7 years ago

UBC #95

He bought the lot for $1.18 million and the house couldn’t have cost much more than $600K to build. It’s only 2800 sqft and not that great – So he’s in for maybe $1.8 million

patriotz
7 years ago

The Ottawa condo development ad which keeps coming up on this webpage for me now has:

“Breaking news… $10,000 off selected condos… Limited time only…”

Yes I believe the “limited time” part. Next it will be $20,000 off. 🙂

UBC in Crisis Mode
UBC in Crisis Mode
7 years ago

Wow, the owner/developer finally unloaded this house after more than a year.

http://www.realtylink.org/prop_search/Detail.cfm?MLS=V1016476&REBoards=All&From=MLS

let’s see how much he has made:

Just some assumed numbers:

Land: $1,6 million
house: $800,000
total $2.4 million
other cost?

Asking price $2,288,888

Best place on meth
Best place on meth
7 years ago

@fixie guy

Yeah but….free dogs.

And they’re free range.

rp1
rp1
7 years ago

#89 & 90. Next up: restaurant revival! Capitalism: the problems solve themselves.

fixie guy
fixie guy
7 years ago

@90: Houses won’t cost $100 since buyers remain responsible for back taxes owning. Detroit is also a city built to serve millions, supported by a unemployed tax base of approximately 700K and falling. Chinese investors are setting themselves up as an unwitting charity.

fixie guy
fixie guy
7 years ago

@81: Of course. I understand the requirements, but not how to filter for first and last price per property in Excel. Downside is underestimating just how badly the market is performing. I’m OK with that. 😉