Yessireee, it’s Friday again!
That means it Friday Free-for-all time, our regular end of the week news round up and open topic discussion thread.
Here are a few recent links to kick off the chat:
–We’re the 39th best place to live
–Don’t worry about debt
–Flaherty’s ‘dangerous meddling’?
–Canadian banks at risk
–Did Carney damage economy?
–Bye bye Fanne and Freddie
–
So what are you seeing out there? Post your news links, thoughts and anecdotes here and have a great weekend!
Sweet FFF. It’s goin on and it’s strong! Did someone say all time Vancouver RE high? haha, that was 2 years ago. Feel sorry for all the latest greatest fools.
From the point of view of yield there is no point in bidding up the price of Vancouver real estate and it is evident that strata buyers have kept prices within in a 7 year range: http://www.chpc.biz/vancouver-housing.html
But if inflation fears get stoked (CPI jumped up on the last data point), the bulls may use this as a raison d’etre.
In Toronto and Calgary, the party continues.
http://www.chpc.biz/toronto-housing.html
http://www.chpc.biz/calgary-housing.html
@2: “When 2008 hit, bears cited fears of 1980s style double digit inflation around the corner”
It’s those “bears” again. Who said what?
“With 250,000 immigrants coming in every year, coupled with hundreds of thousands of temporary foreign workers”
You can’t add those numbers together, because TFW’s eventually either leave, or become immigrants who are included in the count for that group.
The temporaries can and often do still buy houses.
At 50% of the open houses of existing homes (not new builds) on the west side that I have attended, the reason given for selling was that the “kid finished school so the family moved back to china”.
There is likely no data to track home purchases by foriegn students or by the parents of foreign students but in my experience, it is a huge percentage of west side sales.
There are way more foriegn students than IIP immigrants. And the foriegn student program has not ended.
One nice thing about astronomical prices is you can’t accidently turn into a bull and buy. As you simply cannot qualify for the loan.
@6:
Separately titled row housing would be great for Vancouver (the CoV or suburbs for that matter) but I don’t think that it would keep families from leaving the CoV, because they would be outbid by no-kid households regardless of what’s built.
The row housing in central Toronto for example is more expensive than many SFH’s in the suburbs.
Vancouver, City of Transients.
No longer a place to raise a family.
A home is no longer a home, just a commodity.
@7: Totally fair point.
No discussion about sale collapse of Van West? So far 3 sales of SFH for March, and it was 136 for Feb and 136 for Jan. Because of slow spring, or cold weather? Where is Vancouver Sun and Global TV when our RE industry needs you!
The healing process can only start by first telling the truth to yourself – I was wrong for the last decade/since 2008/or however long you’ve been bear. Only then can you maybe see the light of hope.
any proud vancouverites out there …tell us what you love about your third rate town
hey UBC,
Where you get you number? 3 sales in the West side? Are you a realtor?
@11 – doesnt it take two weeks for sales to show up? If so we would only start seeing the beginning of the months data now right?
http://www.realtor.ca/propertyDetails.aspx?propertyId=14021388&PidKey=-648809686
nothn to worry about here folks
all is swell
Happy 15 K
Hey Space 889, I’m out,
You guys make an interesting point. I’d like to mention that it’s not valid for everybody.
I am one of those which haven’t bought. Since 2003. Buying would have castrated me financially.
So by renting, I am OK economically. I save, invest, and sleep well at night. I rent a modest townouse for my 5 member family.
During the decade, I have saved enough to buy a house in a “normal market”. Not in Vancouver.
If house prices continue to climb, I’ll keep renting and saving.
So.. what is the problem?
Have a great weekend!
Cheers
arit
(non PC statement: Jesus saves, but Moses invests!)
#18
the joke used to go:
Jesus saves, but Phil Espisito scores from the rebound.
Costly nightmare for dozens of B.C. homeowners
http://globalnews.ca/news/1207046/watch-costly-nightmare-for-dozens-of-b-c-homeowners/
tedeastside Says:
any proud vancouverites out there …tell us what you love about your third rate town
———————
Because you don’t live here in vancouver,thats a good reason to to live here.
http://www.vancouversbestlistings.com/Properties.php/Details/707
276K for this?
hehehahaha a 39 year old shoebox
Its Fabulous!
You can buy a new shoebox in Vancouver for that kinda $$
Abbotsford’s struggle to address the issues faced by its most vulnerable citizens has been well-publicized since city staff dumped a load of chicken manure on a homeless camp last June. In many ways, the chicken sh*t dump on a homeless camp was the best/worst thing that could have happened in this community. It has served as a catalyst to bring to light a number of ongoing atrocities and acts of violence the homeless face every day.
…Costly nightmare for dozens of B.C. homeowners…
That’s not a nightmare; that’s pride of home ‘boner-ship’