Hot at the edges

Just in time for the spring buying season the Province newspaper has published a public service announcement about the hottest lower mainland markets.

What do the experts say are the hottest markets in BC?

1. Surrey
2.Maple Ridge / Pitt Meadows
3.Fort St. John
4.Dawson Creek

Surrey seems to do quite well with REIN – they took the number one investment spot in the province last year and also in 2012, 2011, and 2010.

Have you bought your surrey home yet?

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Bailing in BC
Member

Bryan Yu, regional economist with Central 1 Credit Union says
“Recreational markets in the southern Interior and on the Island are forecast to observe sub-one-per-cent growth through 2015,”

Talk about Realturd prattle.

Do you mean “Prices are going TO DROP AT LEAST 1%” Bryan? Is that what you mean?

mac
Member
mac

I believe that The Rize, at West Broadway/Kingsway is going ahead. I think this area will be hot, hot, hot… don’t know about prices but hot in the sense that there’s nothing there now and people will want to live there once something is built.

Still looks to be bloody tall. I guess, they’ll knock down Kingsgate mall pretty soon and put up a sister tower.

MikeS
Member
MikeS

@1

Sub-one-per-cent probably means something like zero to one. Like a 0.5%?

RaggedyRenter
Member
RaggedyRenter
Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

if you refuse to learn mandarin you end up in surrey, abbotsford and maple ridge.

do the smart thing and learn mandarin.

Enigma
Guest
Enigma

From http://money.ca.msn.com/investing/news/breaking-news/canada-housing-agency-to-underwrite-less-mortgage-insurance

“The CMHC also said it would try to improve the quality and amount of data it shares on the mortgage market in its next quarterly financial report, after a major private-sector bank economist criticized the lack of data on Canada’s housing market, saying it left homebuyers and investors flying blind.

The next report typically comes at the end of May.”

mac
Member
mac

RR,

It’s those prudent Canadian bankers at work… transferring risk to Genworth. At least it’s a bit of something in the right direction.

mac
Member
mac

Does anyone know if CMHC is on the hook for the entire length of the amortization? Say 20-40 years, depending on when all the contracts were signed? Or, can they, at the end of the 5-yr mortgage term, decline to renew the insurance on mortgages they feel are too risky. I’m thinking that that would completely destabilize the housing market, so it can’t be possible? Once they partner with a sub-prime borrower than it must be for as long as the borrower owns that title?

elvince
Guest
elvince

@mac: the CMHC is on the hook for the whole mortgage, except if you change lender, you have to be re-insured (that means you’ll need to pay another premium) unless you have reached 25% equity.

Usually, if you bought a house with some equity, you’re in the insurance-free zone after 5 years. Only recently, with subprimes and sub-5% down has this changed.

Aggregator
Guest
Aggregator

#6

When the government says it will share more information, it usually means they will disclose something new and hide something else. I’m just looking at CMHC’s 2013 annual report now and it seems after a decade of reporting high and low ratio insurance-in-force (IIF) by province, this year’s report doesn’t include such information.

So now they’ve consolidated high and low ratio IFF under ‘portfolio’ and ‘transactional homeowner’, whatever that means.

Whenever you see these types of methodology changes, it implies something needs to be hidden.

Happy Renter
Guest
Happy Renter
Melba
Guest
Melba

From today’s Globe:

http://www.theglobeandmail.com/report-on-business/economy/housing/drones-fly-their-way-into-real-estate/article18454293/

Yellow helicopters have arrived in Toronto! Maybe Cam Good can drop of some of his Barbie and Ken dolls to make it all seem more real.

How do you know when there’s no news? When a Realturd’s toys make the front pages of the business section.

Burnabonian
Guest
Burnabonian

Vancouver in a nutshell.

http://www.zerohedge.com/news/2014-05-05/eight-characteristics-stock-market-mania

Hooray for whatever hack “reporter” for reporting that Surrey is “hot”.

That’s like reporting that, minute-by-minute, the stern cabins in the Titanic are gaining increasingly more impressive views.

patriotz
Member

Foreign worker reports death threats, coercion

Once again, Jason Kenney is shocked, shocked and promises to investigate.

Steve
Guest
Steve

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midnite toker
Member
midnite toker

Sometimes I think I need to get the fuck out of this city, but I hear Toronto is just as bad.

@Burnabonian
Guest
@Burnabonian

Since your comparing Vancouver real estate to a sinking titanic, you must think the crash is under way already?

How do you square your thinking with reality? The two seem to contradict.

UBC in crisis mode
Guest
UBC in crisis mode

What is the effect on Vancouver housing market as China’s asset bubble is bursting?

http://blogs.wsj.com/chinarealtime/2014/05/05/chinas-property-bubble-has-officially-popped-report-says/

patriotz
Member

@17: “Since your comparing Vancouver real estate to a sinking titanic, you must think the crash is under way already?”

Condos are the bow and SFH are the stern.

Son of Ponzi
Guest
Son of Ponzi

Stern or bow?
Does not matter.
They all will end up under water

Aggregator
Guest
Aggregator

What is the effect on Vancouver housing market as China’s asset bubble is bursting?

More corrupt officials trying to get their money out of China before it collapses.

paulb
Member
Active Member

New Listings 301
Price Changes 127
Sold Listings 150
TI:16407

http://www.paulboenisch.com

mac
Member
mac

You’re late UBC. We’ve seen that one already. And it’s just one bearish point of view. China can still print money. Believe me, if it bursts… you can count 60 days and then the MSM will clue in.

123
Guest
123

Li Keqiang “Seeking Truth” shouts mention “Last Stand” to express the determination of economic reform
http://hk.aboluowang.com/2014/0503/393685.html#sthash.rXee5p62.dpbs

Remarks were interpreted as implying Li Keqiang, the face of the current economic slowdown problem, do not take short-term stimulus measures.

tedeastside
Member
tedeastside

Toronto is not as bad as vancouver, Toronto actually has jobs.
everything in Toronto is Cheaper than Vancouver and wages are higher.
plus TO has real pro-sports and entertainment

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