FFFA! Affordability, Overpriced, Comparisons

It’s that time of the week again!  This time, we’re going to use the assistance of commentor Snake who posted most of these links.

Thanks Snake and everyone else who contributed links.

But as a general reminder, if you post more than one or two links your comment will get held up in moderation. Inconvenient yes, but better than getting inundated with spam links.

Ok! On to the links:

Most Over And Undervalued Markets
Market overvalued, but crash worries ease
7 Remarkable Numbers From Canada’s Housing Market
Carney To Stop Mortgage Funding Scheme
Housing Bubble? Canada’s Top Banking Regulator Refuses To Say
Vancouver Real Estate Canada’s Least Affordable: Report
How much house can you handle?
Home affordability worsens, new report shows
The Chase: Toronto couple’s search for a $650,000 house
Goldman Sachs recommends shorting CAD$
Babies ‘R’ Expensive
Angry in Whistler

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

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VMD

Wonder if the Vancouver RE industry will dare to trumpet the “All-Time High SFH Average Price in Nov/13″

– as most of us are aware of the pitfalls of using Avg price to gauge market price trend, I won’t repeat them here.
– official REBGV HPI benchmark prices will be out soon
– Looking back at October Greater Vancouver Detached HPI:
Oct 2011: $939,900
May 2012: $967,500 (peak)
Oct 2012: $927,500
Oct 2013: $922,600 (-4.6% vs peak)

– November Stats (preview)
Nov/13 Sales~ +41% YoY. -2.2% vs 10Y Avg (Oct/13: -1.4% vs 10Y Avg)
Nov/13 Lists~ +17% YoY. +1.6% vs 10Y Avg (Oct/13: -1.6% vs 10Y Avg)

yvr2zrh

A couple of thoughts as November ends. Fall market has been pretty good – balanced. Prices flat to down slightly in many areas. Averages for detached in November are much much higher – setting a record – however, this is most likely caused by mix. As the “Middle” class slows down in Purchasing and higher priced homes keep selling, the average is getting pushed up. When the stats come out – I would bet that the sales in Van West detached are up pretty well while others are not up as much. There has been a trend of lower expirations / price reductions over the past 3 months – this means the market is not terrible for sellers. No immediate price decrease is coming – I would even say that with this good of a fall market, there will not… Read more »

bluechipbear

@ Bull

Let’s see…for example, dividends @ 5% over the last 10 years compounded.
You do the math.
Cap gains only start on top of that…

midnight toker

Canadian naval intelligence leaked: Deaner is getting a new motor for the zodiac next year.

Sachingchong
Son of Ponzi

Time for some HAM trivia.
Q: How do you spot a HAM denier in Richmond Center.
A: A white guy wearing blinders.

Son of Ponzi
Bull! Bull! Bull!

“Robert Shiller, Nobel Winning Economist, Warns Of U.S. Stock Market Bubble”

as we all know, bears are all super rich and stash the money they save away. please remind me where exactly that money is again?

Snake

Robert Shiller, Nobel Winning Economist, Warns Of U.S. Stock Market Bubble
http://www.huffingtonpost.com/2013/12/01/stock-market-bubble_n_4367807.html?ref=topbar

Snake

crashcow Says:
This is what its come to.
I’ve Got Condos (Ludacris parody)
http://www.youtube.com/watch?v=fF9Ss6Qp5y8
———————————————–
At 0:54 did he say have a barbeque and watch people have sex ?

That the realtor people should hire when they look for houses.

Snake

tedeastside Says:
in the last 10 years vancouver has become a sick and desperate place
i wouldn’t live there for free
———————————–

i am just curious where do u live ?

tedeastside

in the last 10 years vancouver has become a sick and desperate place
i wouldn’t live there for free

Market cough

http://www.vcn.bc.ca/citizens-handbook/rules.html

Rules for Radicals.’The threat is more terrifying than the thing itself.’

Many Franks

So this article is apparently not intended as satire:

Like any oppressed group, recent Vancouver home buyers are a resourceful bunch. We’ve learned to endure the stress of living in an unaffordable city by any means at our disposal.

Oppressed group, huh? Somebody call Amnesty International.

The rest of the article goes on to describe how running an unlicensed, gray-market hotel business can make you enough money to avoid bankruptcy until the market gets oversaturated and drives prices down, or your neighbours report you, or legislation steps in. Sounds like a sure thing to me.

crashcow

This is what its come to.

I’ve Got Condos (Ludacris parody)
http://www.youtube.com/watch?v=fF9Ss6Qp5y8

glut

#86

“OPEC expects overall demand for its crude to drop by about 300,000 barrels a day next year and some members are pushing to trim output”

http://online.wsj.com/news/articles/SB10001424052702303562904579227632634058104

N

It seems you can get a one bedroom condo on the Freedom Ship for a fraction of the cost of a one-bedroom here.

http://www.rawstory.com/rs/2013/11/29/florida-mans-10-billion-plan-to-build-floating-city-for-the-wealthy-is-a-live-project-again/

ILoveCharts

Re the liquor in grocery stores:

My main complaint is that it will just do more to distribute the drunks around town. Right now, they are concentrated near the liquor stores. Soon, they will be everywhere. It’s almost as bad as trying to put social housing units for addicts in family neighborhoods.

RealityCheck

Loon,

So your one of those guys that would like regulation to the max. Just like CMHC…

I like free markets where people can make decisions for themselves, whether good or bad.

Hovering

http://finance.yahoo.com/news/nobel-prize-economist-warns-u-145958152.html

“Bubbles are created when investors do not recognize when rising asset prices get detached from underlying fundamentals.”

really? shocked ..

Loon

@ reality check

The greater issue here is not which stores will sell alcohol and for how much, but rather why should we be selling it in an open manner.

This change will make it easier for everyone to purchase and consume more alcohol, which is never good for a society as a whole.

I’m taking the moral high ground because I’ve seen the damage that it can do.

RealityCheck

YVR,

Jokes gonna be on you….wait and see. What you read is propaganda hoping people post like you did.

Again, you will see.

YVR

@81″This going to be a win win for everyone except the consumer. Higher prices. The fewer liquor stores (ALL Private) will sell most of the spirits while the grocery stores take care of the wine/beer. WORD ON THE STREET IS THAT A LIQUOR RETAIL LICENCE HAS JUST SHOT UP IN PRICE FROM $1 Million to $2 MILLION overnite! Wish I had one…you had to know ‘someone’ to get one…” The private liquor store owners have been lobbying against this change. I guess you missed the TV and radio commercials financed by the private liquor stores. If grocery stores are permitted to sell liquor the existing private liquor store profits will go down not up. Grocers can sell at much lower margins in order to draw people into their stores. The end result will be lower prices for consumers. With more… Read more »

T

I wonder how will the smaller guys cope with the rule change. Looks like a win corporate supermarkets with experience, staffing and space to take on another department. A loss for your local independent grocer.